Although thousands of attorneys will work with a recruiter this year, most will spend less time evaluating recruiters than they do researching airfares on the Internet or on Facebook. A recruiter should play a much larger role in the job-search process than simply relaying information about opportunities, especially when it comes to Asia based assignments. Unlike the practice of law, the legal-recruiting profession is not regulated and does not require any type of license. Yet using a recruiter involves temporarily entrusting the course of your career to another person. As many recruiters turned their attention to the Asia legal markets after the domestic economic downturn, we thought it timely to suggest the following questions when interviewing a potential recruiter to determine their experience and expertise in the Asia legal markets. There are many excellent legal recruiters out there, but not all recruiters are created equal and, most importantly, only a handful of recruiters have yet to gain the experience and the knowledge that the Asia legal recruiting field demands.
Dawn P. Robertson, Esq. March 13th, 2016
If you want to know how an international assignment is really going, ask your spouse. It is well known that the success or failure of a stint abroad can depend largely on the contentment of trailing family members. Below you will find some personal insights gathered from our candidates throughout Asia regarding the practicalities of a move abroad and what helps dependents make the adjustment to a new life. While no single solution will work for everyone, the following suggestions have worked very well for our candidates overseas.
Learn as much as possible about daily life before you leave.
One of our candidates in Hong Kong highly recommends that, if possible, go on a fact-finding trip before you make the move. This may be best completed when you are visiting the location for interviews. You may be fortunate enough to find a home on these initial visits, but even if not, at least you will have an idea of what is available and what you may wish to pack or leave behind. If you have children, be sure to take lots of pictures to show them and pique their interest. This can often help with pre-trip nerves in that it will help you and your family know what to expect, what a new home may look like, where they might go to school, or what the shops and surrounding streets look like. Language lessons can also help, and don't sneer at any offer for cross-cultural training-it can really help.
Dawn P. Robertson, Esq. March 8th, 2016
We are pleased to share this compensation report to provide guidance to our partner and associate candidates. We have gathered information with the help of our law firms clients and candidates and from our in-depth knowledge of the market. Please note that this report isn't all inclusive as we represent mostly Am Law 100 international firms and top local firms in Tokyo, Hong Kong, Mainland China and Singapore.
Premier law firms are offering increasingly competitive packages in order to attract and retain top legal talent throughout the Asia market. Hiring conditions across Asia are showing steady and noticable signs of improvement with new openings in litigation, dispute resolution, project finance, fund formation, capital markets and M&A.
Interestingly, the Hong Kong market for the last twelve months has been experiencing the continued tussle for HK qualified and US, UK and AUS qualified associates and a few American firms continue to pay their Hong Kong and UK and AUS qualified associates at New York-scale salaries starting at $160,000 for first years. However, it is important to note that not all of their competitors in Hong Kong have followed suit and some are waiting to see how these salary changes develop.
The Hong Kong and Beijing offices of US NLJ 350 firms also saw large increases in their lawyer headcounts this year. Beijing firms experienced an 15% gain and Hong Kong firms experienced a 12% gain.
William Wesley March 7th, 2016
While Asia’s markets continue to cool, the economies are still growing at a faster pace than the vast majority of other regions and we witnessed more partner moves in 2015 than in the past five years.
Representative Partner Moves—October 2015
Jennifer van Dale, Employment, moved from Gall Solicitors to Eversheds, Hong Kong.
Jini Lee, Debt Capital Markets, moved from Linklaters to Ashurst, Hong Kong.
Michael Withington, Disputes, moved from Gall Solicitors to Howse Williams Bowers, Hong Kong.
Yilong Du, Equity Capital Markets and M&A, moved from Goldman Sachs (Executive Director and Counsel) to Latham & Watkins, Hong Kong.
Pattie Walsh, Employment, moved from DLA Piper, London to Bird & Bird, Hong Kong and London.
Samantha Thompson, Corporate Finance and M&A, moved from Linklaters, Hong Kong to PricewaterhouseCoopers, London and Hong Kong.
Thomas A. Jones January 10th, 2016
Representative Partner Moves—July 2015
Giovanni Marino, M&A, FDI, moves from DLA Piper to Winston & Strawn, Hong Kong.
Jolson Ellwood-Russell, Finance, moves from DLA Piper to Simmons & Simmons, Hong Kong.
Christoper Morley, Anita Chow and Eric Seto, Litigation, move from Haldanes to Morley Chow Seto, Hong Kong.
Jeffrey Chen, Finance, moves from Cadwalader, Wickersham & Taft to Dentons, Hong Kong.
Patricia Tan Openshaw, M&A, moves from Paul Hastings to Gibson, Dunn & Crutcher, Hong Kong.
Nigel Pridmore, Finance, moves from Linklaters to Ashurst, Hong Kong. (more…)
Thomas A. Jones October 15th, 2015
Representative Partner Moves—April 2015
Hong Kong & Shanghai
David Ludwick, Capital Markets, moved from Linklaters to Freshfields Brockhaus Deringer, Hong Kong.
Stephanie Tang, M&A, moved from Kirkland & Ellis to Shearman & Sterling, Hong Kong.
Alan Freiman, Real Estate, Glenn Haley and Geoffrey Shaw, both Construction, Dispute Resolution, all moved from Haley & Co to Berwin Leighton Paisner, Hong Kong.
Tim Gardner, Private Equity, moved from Latham & Watkins to Weil, Gotshal & Manges, Hong Kong.
Scott Peterman, Private Equity, moved from Sidley Austin to Jones Day, Hong Kong.
Kyungseok Kim, Corporate, Private Equity, moved from Linklaters to White & Case, Hong Kong.
Anna Elshafei, Corporate, moved from Hogan Lovells to Miller, Canfield, Paddock & Stone, Shanghai.
Thomas A. Jones July 15th, 2015
Representative Partner Moves—January 2015
Vincent Sum, Structured Finance, moved from Bingham McCutcheon to Mayer Brown JSM, Hong Kong.
Ed Sheremeta, Real Estate, moved from DLA Piper to Ropes & Gray, Hong Kong.
Michael Liu, one of the most experienced Corporate Transactional attorneys in Hong Kong and his team of Jane Ng and Stephen Chan, along with several Counsel members move from Latham & Watkins to Cadwalader, Wickersham & Taft, Hong Kong.
Sarah Catchpole, Aviation, moved from Norton White, Sydney to Kennedys, Hong Kong.
Thomas A. Jones April 4th, 2015
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…)
Jacob Hansen November 15th, 2013
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…)
Jacob Hansen October 15th, 2013
Sidley Austin has appointed Tju Liang Chua as partner in the firm’s international energy practice in Singapore. Chua has extensive experience in the energy and natural resources sectors. He advises clients on complex international cross-border transactions, including recently some of the most significant energy M&A deals between Asia and the Americas. He also handles energy and natural resources–specific matters, including LNG and crude oil sales agreements, drilling services agreements, joint operating agreements and production sharing contracts. Chua is a native of Singapore and is able to additionally advise on transactions governed by New York and Singapore law.
Jacob Hansen July 29th, 2013