Night shot of Hong Kong financial center and the Victoria habour

As the global economy becomes more interconnected, and working abroad becomes more desirable, many attorneys have looked to Hong Kong as an attractive location to work in China. In 2014, Hong Kong increased the number of work visas issued to foreign professionals to 31,676.  Hong Kong is one of the world’s largest financial centers, and right on the doorstep of the rapidly expanding China.  A recent survey this February, 2016 conducted by HSBC found that China has the largest share of high-earning expats with 29% of expatriates in China make more than $250,000 USD, and many expats believe that the country offered them a higher quality of life.  Hong Kong ranks 10th in a list of top destinations by expatriates, Singapore is the top destination in Asia and six of the top ten locations are in Asia according to HSBC.  “This reflects the good schooling, housing, transport connections and availability of goods and services that the territory offers,” says Lee Quane, regional director, Asia, of ECA International. This high standard of living has attracted top-tier law firms like New York-based Simpson Thacher & Bartlett and Davis Polk & Wardwell. Hong Kong possesses a number of features that makes it popular for expatriates. 

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March 20th, 2016

Posted In: Asia Market Watch, China, Expat Life, Expat Lifestyle Guide, Hong Kong, Recent Posts

As the global economy continues to feel the effects of the 2008 recession, it faces both short and long-term challenges. But new and exciting opportunities are being created as the world’s markets walk the road to recovery. Southeast Asia has become an area of growth, attracting many firms and attorneys wishing to expand their portfolios abroad. The legal market in Asia is continuing to grow at record speed, changing the landscape for expatriate lawyers with an increase and broadening of opportunities for associates, partners and firms, a rapid and substantial deal flow.

According to the American Lawyer, Am Law 100 law firms had mild gains in 2012. They reported that gross revenue for Am Law 100 law firms was up 3.4 percent, average revenue per lawyer was up 2.6 percent, and average profits per partner were up 4.2 percent. Notably, this growth was uneven and the more successful firms tended to have a strong international presence, and well as a diverse set of practice areas.

Asia is a strong area of international growth and this extends to the legal sector. The Asian legal market is on pace to double in size by 2017, according to Asia Law Portal. Their analysts project the Asian legal market to grow 6 to 7 percent over the next 8 years, creating a strong incentive for U.S. and U.K. to get on the ground floor for fear of being left out. (more…)

November 15th, 2013

Posted In: Asia Jobs, Asia Market Watch, China, Hong Kong, India, Japan, Partner Watch, Practicing in Japan, Recent Posts, Recruitment, South Korea

As the world’s economies still feel the aftereffects of the global financial crisis, the traditional flow of capital in those markets has been changing dramatically.  New investment opportunities have arisen between emerging markets, and China is at the forefront of the new development.  China is now the world’s second largest economy, largest consumer of energy, and fifth largest overseas investor.  Driven by a demand for energy and commodities, China has begun courting Latin America as a prospective new trading partner for years to come.

In 2012, Chinese outbound investment to Latin America more than doubled to 17% of all outbound investment as compared to 6% in 2011.   Initial investments into Latin America were in the form of oil for money loans that eventually became long-term procurement contracts with mining and petroleum companies.  These loans were followed up by Chinese state-operated enterprises (SOEs) acquiring shares in natural resource companies.  Much of the notable activity was in Brazil, and the most the active player was China’s second largest oil and gas producer and biggest refiner, Sinopec. In 2010, Sinopec acquired 40% of the Brazilian operations of Repsol-YEP for $7.1 billion, making it the largest Chinese investor into Latin America. While much of the Chinese action in Latin America is still driven by SOEs, an increasing number of private equity (PE) firms are showing interest in the region. (more…)

October 15th, 2013

Posted In: Asia Jobs, China, Hong Kong, Recent Posts

As the global economy expands and more and more companies move overseas, many law firms have begun to open offices in Southeast Asia.  In particular, Singapore has been an active area for international firms.  Firms such as Latham & WatkinsO’Melveny & Myers, and Morrison & Foerster have all opened or expanded offices in Singapore in the last year.  One of the reasons Singapore has been such a popular destination is that it is a great country for expatriates. Of all the common expatriate destinations in Asia, Singapore has been consistently voted as one of the friendliest to expatriates’ families.  A number of features help make Singapore welcoming to guests from abroad:

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August 29th, 2013

Posted In: Expat Life, Expat Lifestyle Guide, Recent Posts

Japan

Orrick, Herrington & Sutcliffe has appointed Edward “Ted” S Johnson as a partner in its M&A and private equity practice group based in the firm’s Tokyo office. Johnson, a leading corporate and M&A lawyer in Japan, was formerly a partner with Paul Hastings where he was managing partner of the Tokyo office. He counsels multinational companies and private equity funds in structuring and negotiating cross-border mergers and acquisitions, joint ventures, restructurings and other strategic transactions. He also represents clients in dispute resolution and compliance matters involving the Foreign Corrupt Practices Act and other anti-corruption, regulatory and competition law issues. Johnson represents clients across a wide range of sectors including telecommunications and media, pharmaceuticals and biotechnology, manufacturing, power, retail, hotels and real estate, finance and education.

August 26th, 2013

Posted In: Recent Posts

China

Allen & Gledhill has advised DBS Bank Ltd as the arranger, Deutsche Bank AG Hong Kong Branch as the issuing and paying agent and the Central Moneymarkets Unit lodging and paying agent, Deutsche Bank AG Singapore Branch as the Singapore paying agent, and DB Trustees (Hong Kong) Ltd as the notes trustee and the security trustee, in respect of the establishment of a S$300 million (US$234.78m) multicurrency medium term note program by HanKore Environment Tech Group Ltd. HanKore issued S$50 million (US$39.13m) fixed rate notes due 2015 on 1 August 2013 under the program. DBS was the dealer of the notes. Partners Margaret Chin, Ong KangxinDaselin Ang, and Sunit Chhabra led the transaction. (more…)

August 26th, 2013

Posted In: Asia Market Watch, China, Deal Watch, Hong Kong, India, Japan

End of Summer Happy Hour

Date:              August 28, 2013

6:00 pm – 7:30 pm (more…)

August 19th, 2013

Posted In: Upcoming Events/CLE Courses

Singapore

K&L Gates LLP has appointed Lian Yok Tan and Nicholas Hanna as partners in the energy and corporate/M&A practices, respectively, in the firm’s Singapore office. Tan arrives from White & Case whilst Hanna joins from Watson, Farley & Williams. Tan advises government bodies, banks, and corporations throughout Asia on project development and financing in the energy, infrastructure, power, mining, and oil and gas sectors. She also counsels clients on M&A, commercial trade matters, structured and asset financings, and private equity transactions. Counseling clients in the oil and gas, mining, energy, and resort sectors throughout the Asia Pacific region, Hanna advises on Main Market and AIM listings on the London Stock Exchange, capital raising, private equity transactions, and complex contractual commercial disputes that focus on international trade, oil and gas, and intellectual property.

August 19th, 2013

Posted In: Asia Market Watch, Office Openings/ Partner Moves & Promotions

China

Allen & Gledhill has advised The Hong Kong and Shanghai Banking Corporation Ltd (HSBC) as sole lead manager and book-runner in respect of Banyan Tree Holdings Ltd’s issuance of S$70 million (US$55.5m) 5.75 percent fixed rate notes due 2018 under its S$400 million (US$317m) multicurrency medium term note program. Partners Yeo Wico and Sunit Chhabra led the transaction. (more…)

August 19th, 2013

Posted In: Asia Market Watch, China, Deal Watch, Japan

China

Bryan Cave has expanded its Hong Kong presence with the appointment of Nigel Binnersley and Kristi Swartz as partners. Binnersley will practice with the firm’s commercial litigation client service group whilst Swartz will practice with the transactions client service group. Binnersley acts both in litigation and commercial matters, with an emphasis on international trade and carriage disputes involving commercial litigation in the courts and arbitration/mediation, conflict of law disputes, maritime, insurance, and asset finance. On the commercial side, he advises on joint ventures, foreign direct investment, setting up businesses in Hong Kong and China, shareholders agreements, employment advice, personal injury defense and claims work, and asset sale and purchase. (more…)

August 12th, 2013

Posted In: Recent Posts

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