In May, Hong Kong SAR became the most active lateral move market for law firms in Asia, having recorded 15 partner moves – surpassing the lateral activities in Singapore (11 moves) for the first time in years. The Chinese law firm Han Kun’s launch of its Singapore office has helped Singapore to continue its non-stop momentum in attracting foreign law firms with international ambition.
The biggest news in the international legal community last month was the merger announcement made by Allen & Overy and Shearman & Sterling, creating one of the world’s largest legal practices with combined global revenue of approximately $3.4 billion. However, because of the significantly downsized businesses of Shearman in Asia in recent years, the merger is having little effect on the two firms’ local operation and, despite speculation, focus appears to be on their London and New York markets.
