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Wall Street Lawyers coming to Hong Kong

by on July 6, 2010

Businessweek is reporting that more American lawyers are seeking to become qualified to practice in Hong Kong as more firms seek entry into the growing Asian legal services market.  One high profile attorney is William Barron, a partner at Davis Polk, who advised Industrial & Commercial Bank of China Ltd. on the world’s largest privatization.  He is just one of many lawyers and firms who the SAR is going to be the best bet for generating future fees.

According to Businessweek Davis Polk is not alone:

“Beijing-based firms including King & Wood have opened in Hong Kong, where the number of international law firm offices has almost doubled to 69 since 2004 as Chinese companies’ share of Hong Kong’s market capitalization has risen to half from less than 5 percent in 1993. That’s a challenge to London-based firms in the former British colony, the only part of China where foreign lawyers can advise on local law.

‘Hong Kong has become the battleground for the world’s law firms,” said Barron. “This is where the action is.’

‘Hong Kong has the advantages of a strong legal culture and respect for the rule of law,’ said Jason Fry, the Paris- based secretary general of the International Chamber of Commerce International Court of Arbitration.

You can read the full story here.

To find out about job opportunities for legal professionals in Asia, please visit us at Law Alliance.

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