Top Law Firms Expanding in Middle East, Asia
Top law firms are ramping up their practices in emerging markets, particularly the Middle East. Meanwhile, growth in Asia continues to create opportunities for U.S. attorneys seeking positions at home and overseas. Executive search firm, A.E. Feldman says attorney opportunities in these regions are growing. The recruiting firm also notes that candidates with experience in the formation of venture capital and private equity funds, M&A, securities, IPOs, derivatives and U.S. tax law are in greatest demand.
Latham & Watkins, the LA based law firm, announced plans to open three offices in the Middle East. Latham says the move will significantly bolster its practice in the Gulf Region. The firm’s Middle East practice will focus on mergers and acquisitions, private equity, project development and finance, structured finance, leveraged finance and capital markets. ”We have deep experience representing clients on both their inbound and outbound investments in the region. The increase in cross-border and regional deal activity presents significant opportunities for our strengths in the twin areas of corporate and finance,” according to William Voge, Global Chair of Latham & Watkins’ Finance Department and Chair of the firm’s Middle East Strategy Committee.
Latham’s new offices, which will be located in Dubai and Abu Dhabi in the United Arab Emirates and Doha, Qatar, are expected to open towards the end of the first quarter 2008.
Fulbright & Jaworski announced in January it is continuing the expansion of the firm’s Middle East practice. Fulbright is expanding its corporate, project and energy capabilities in the United Arab Emirates and Saudi Arabia. ”Our international growth has been driven by our strengths in litigation, arbitration, energy, infrastructure and project finance,” said Steven B. Pfeiffer, the Chair of Fulbright’s Executive Committee. “We believe that continued investment in those areas will best serve our clients wherever they may look to do business worldwide.”
Head of Fulbright’s Middle East practice, John Lonsberg, adds, “Our Middle East team brings the skill, knowledge of the legal landscape and decades of on-the-ground experience. There is an enormous amount of infrastructure and other project development that we are assisting with throughout the region as the Middle East markets continue to steadily grow.”
Law firms are also heading to the Far East in an attempt to capitalize on growth in buyout business. In fact, Weil Gotshal & Manges, one of the world’s largest law firms, has already begun pursuing M&A and private equity work throughout Asia. The New York-based firm opened a new Hong Kong office in October in order to broaden its regional presence. (Weil Gotshal & Manges opened a Shanghai office back in 2004.)
Weil Gotshal has staffed its Hong Kong operation with transactional attorneys as well as attorneys specializing in securities financings, private equity and mergers & acquisitions. “We are determined to continue the expansion of our practice throughout Asia. With Asia an integral part of the firm’s international focus, we expect Weil Gotshal to become one of the premier firms in the region,” according to Akiko Mikumo, Managing Partner for Asia and Head of the Hong Kong office.
Looking ahead, Weil Gotshal & Manges says it is also undergoing preparations to open an office in Beijing sometime this year.
Ropes & Gray also recently announced that it has opened an office in Tokyo, Japan. Although the Tokyo office has an initial focus on intellectual property, Ropes & Gary says the office will be a springboard for serving clients in other key areas, particularly private equity. In a statement, the firm says that by opening an office in Tokyo, Ropes & Gray is in a better position to increase the scope of services its provides thanks to Japan’s strong economy and central location in Asia.
Baker & McKenzie announced last month that it has formed an Antitrust Practice Group in Japan, expanding the firm’s international and domestic practice. The Tokyo Antitrust Practice Group comprises of a core group of lawyers and is supported by a substantial number of specialists in related practice fields including mergers & acquisitions, taxation, dispute resolution, intellectual property and economic analysis.
Additionally, Morrison & Foerster revealed in recent months the continued expansion of its Tokyo office, which has more than tripled in size over the past four years. The firm says the move provides further depth to its Tokyo operations and enhances its ability to execute across the full range of capital markets, M&A, finance, and real estate.
A.E. Feldman adds that candidates at the Senior Associate and Partner level who are bilingual and have experience in Asia are in short supply. Candidates must be fluent in an Asian language, such as Mandarin or Japanese and also have experience in the region. Top firms are willing to pay top dollar for candidates who meet this specific need.
