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Buzz 
Gaopeng & Partners appointed former DLA Piper senior associate Xie Xiaoming, as senior partner, to be located in its Beijing office. He will focus on cross-border M&A deals and strategic investment and restructuring advice.
Orrick, Herrington & Sutcliffe LLP announced the appointment of Niping Wu as a partner in the firm's corporate group. Wu joined the firm from Cleary Gottlieb Steen & Hamilton LLP, and will continue to focus her practice on M&A and private equity transactions in China from Orrick＊s Beijing office.
Paul, Hastings, Janofsky & Walker LLP announced appointment of Guohua (Annie) Wu as corporate partner in the firm＊s Beijing office. Formerly of Kirkland & Ellis LLP in Chicago, Wu＊s practice focuses on representing global investment and merchant banks, private equity investors and MNCs in all aspects of complex business transactions, including those in and involving the PRC.
Hogan & Hartson LLP and Lovells LLP jointly announced that their respective partnerships have approved the merger of their firms. The combination will be known as Hogan Lovells, effective from May 1, 2010. The new firm will have total revenues of approximately US$ 1.8bn and 2,500 lawyers in 40 offices worldwide. It will be jointly led by current Hogan & Hartson Chairman, Warren Gorrell, and Lovells Managing Partner, David Harris, as Co-CEOs.
Jiayuan and Clifford Chance are representing Asia＊s largest wind power generator China Longyuan Power Group in its US$2.26bn IPO on the HKSE. Underwriter, Morgan Stanley, is receiving advice from Freshfields and Jingtian & Gongcheng. The IPO is the world＊s third largest offering by a renewable energy company and has attracted big funds as investors scramble to tap the Chinese renewable energy sector.
King & Wood was engaged on a US$440m Hong Kong global offering by Shenzhen-based property developer Kaisa Group, after recently advising on the US$2.7bn Sinopec/SABIC joint venture. For its IPO, Kaisa Group introduced four cornerstone investors who subscribed for US$60m worth of shares from the developer.
Shearman & Sterling LLP advised Xi'an Aircraft Industry (Group) Company Ltd (XAIC) related to its acquisition, through Future International Aviation Investment Co Limited (Future International), a special purpose vehicle established by XAIC in Hong Kong, of a 91 percent stake in FACC AG from Salinen Austria AG and ACC Kooperationen und Beteiligungen GmbH.
O＊Melveny & Myers represented 7 Days Group Holding Limited, a leading and fast-growing national economy hotel chain in China, related to its US$128 million IPO on the NYSE. 7 Days Inn issued a total of 11.6 million American Depositary Shares at closing, including 1.5 million ADSs issued pursuant to the underwriters' over-allotment option, which was exercised in full.
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Voice
PRC firms 每 crouching tigers The Year of the Ox was not bullish by any means. Most law firms froze head count or laid off＃with some notable exceptions. We observed some domestic law firms moving aggressively to recruit senior lawyers. Many of these lawyers joined from foreign law firms.
Focusing on top tier, and boutique, domestic law firms, we note how many of the senior ranks of these firms are now filled with solid lawyers. These lawyers were well trained in foreign law firms.
To learn more about the motivations〞and challenges, of senior lawyers moving from foreign to domestic firm platforms, we spoke to three new partners in domestic firms who made their move in 2009. The lawyers share common credentials: 1) LLB in PRC, 2) more than 3 years of legal practice in PRC before overseas study or work in foreign law firm, 3) senior lawyers, with more than 5 years serving with foreign firms.
Ms. Kathy Yang left O'Melveny & Myers about six months ago to join Run Ming Law Office; Mr. Xie Xiaoming left DLA Piper to join Gaopeng & Partners about one month ago; Mr. Michael Zhengping Gu left Allen & Overy about one year ago to join Zhong Lun Law Firm. With their initial experience behind them, the lawyers shared their thoughts with us.
Mr. Xie sums up his move timing as, ※Conditions were ripe.§ Mr. Gu notes, ※Although there was deep thinking before moving, the financial crisis hastened it.§ All three lawyers understood and felt comfortable with the firm culture and management of their new firm before moving.
After cooperating with Gaopeng lawyers for many years, Mr. Xie knew the firm well. Ms. Yang described her long communication with the Run Ming founding partners. She concluded, ※In terms of day-to-day work, there are not substantial differences from my previous foreign firm for the daily routine of working and management.§ Each of the three lawyers are like-minded 每 ※I know and like the firm. The firm offers a larger and freer platform. Worries are limited.§
- Management / working style
Many domestic law firms operate with a traditional management style. Cooperation among lawyers is often limited. Foreign firms, generally, have a long history with mature operations and integrated practice. Their management systems and working style are strict and standardized. Domestic law firms, especially young ones, are learning and improving their operations. This improvement is a key reason why domestic firms are successfully luring experienced talent from foreign firms.
During his short tenure with Gaopeng, Mr. Xie is pleased that he has been invited several times to participate in firm management. Ms. Yang notes that at Run Ming, ※The function of the management committee with two executive partners is similar to foreign firms.§ She goes on to say that, ※60% of the current Run Ming corporate team either have worked with from foreign firms or have studied overseas. They have similar educational backgrounds and careers.§
Restricted by regulations, the business scope of foreign law firms in China is narrower and limited. Traditionally, foreign law firms specialized in high-end projects. Ms. Yang notes, ※When complex PRC law issues are involved, foreign firms more often then not turn to domestic firms for advice, despite that some lawyers like me have PRC bar qualifications. Foreign firms are also required to do so under the PRC regulations.§ Therefore, business practice limitations weaken the function of PRC-qualified lawyers working in foreign law firms. With the scope of business in domestic firms much wider, lawyers may expect domestic firms to provide increasing opportunities for practice development.
In some foreign firms the global headquarters exercises considerable control over local management. According to Mr. Xie, ※Work is sometimes run according to another overseas offices＊ instruction because the clients are from them.§ This situation can present challenges if remote managing partners are not familiar with Chinese legal practice and legal market, or their attention to China is insufficient.
High legal fees also put some restraint on business for foreign law firms. ※As more and more lawyers with overseas and foreign firm experience join domestic firms their ability and quality is strengthened,§ says Mr. Xie. ※Clients will certainly choose the domestic firms with reasonable fees.§
All three lawyers describe meeting career bottlenecks while working in foreign firms. They note that the career path to a partner position in foreign firms is quite narrow for PRC lawyers. A strict system controls promotion.
In domestic law firms partner selection criteria, generally, are broader. Personal capability, along with experience, is used as a standard to promote. In a domestic law firm outstanding young lawyers may gain the opportunity to handle business independently after 2-3 years of practice. Their partners act more like supervisors. ※Young lawyers in domestic firms usually deal with a variety of work and have direct exposure with clients. Such experience enhances their career development.§ Mr. Gu notes. The flexibility of a domestic firm platform is a strong lure to lawyers.
The lawyers think that legal market opportunities in China offer a ※big cake§ for skilled lawyers in domestic law firms. But, they offer words of caution, ※Don＊t get out of the foreign firms blindly if you do not have an LLB from a PRC university and some practice experience in China. Foreign law firms are really good for young lawyers to get complete on-the-job training. Lawyers without good understanding of Chinese law and clients will find limited development space in domestic law firms.§
Mr. Xie notes that lawyers in foreign firms are strong in producing high quality paper work, while comparatively weak in communication skills. This weakness presents a challenge for a moving lawyer to learn how to effectively communicate with clients and win their trust.
After her move to Run Ming, Ms. Yang says she is working to build a bridge between the firm and its foreign-related corporate clients. Ms. Yang notes that, ※foreign firm lawyers are not as familiar with PRC law as domestic firm lawyers, so the cooperation with colleagues should be reinforced after moving, to raise efficiency.§ Lawyers with both international and domestic knowledge and experience strengthen the communication and cooperation. ※This results in promoting trust with clients,§ says Ms. Yang.
- Prediction for 2010 legal market
As we enter the Year of the Tiger, will the crouching tiger domestic firms mature into hunting tigers? Certainly, domestic firms will increase competition with foreign firms〞not only for business, but for talent as well. The three lawyers think domestic firms will become more competitive if they improve management systems and team building.
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Fun
At the end of a criminal trial, the lawyer and client were leaving the courtroom.
Lawyer: "Now that you have been found not guilty, will you tell me truly, did you steal the car?"
Client: "After hearing your amazing argument in court this morning, I was beginning to think I didn't steal it."
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Vacancies
The LawInn team is constantly working to bring you the best choice of legal opportunities in China. Below is a small selection of the positions we are currently handling:
Senior Associate (Banking & Finance) 每 Shanghai 每 Ref: LPF10502
This is a leading domestic full-service law firm. It has over 300 attorneys in more than 5 offices throughout China. Currently, the firm is looking for Senior Banking and Finance Lawyer to be located in its Shanghai office. Contact Jolie Hu at (021) 6249-2300 or email.
BD Manager 每 Shanghai 每 Ref: LPF10503
This is one of the largest PRC-based law firms. It operates more than 5 offices throughout China providing high quality legal services. Currently, the firm is looking for BD Manager to serve in its Shanghai office. Contact Susan Guo at (021) 6249-2300 or email.
Senior Associate / Partner (Tax Group) 每 Shanghai 每 Ref: LPF04825
This is a reputable law firm that is strategically aligned with an international law firm with a network of more than ten offices in the United States and Europe . The firm's Tax Group is looking for Senior Associate / Partner to join its Shanghai office. Contact Jolie Hu at (021) 6249-2300 or email.
Capital Market Lawyer 每 Shanghai 每 Ref: LPF10505
This is a reputable PRC law firm, providing a full range of legal services. The firm employs more than 300 lawyers around China. Currently, the firm is looking for Capital Market Lawyer to be located in its Shanghai office. Contact Angel Xin at (021) 6249-2300 or email.
Legal Counsel (Insurance) 每 Beijing 每 Ref: LPC09401
This is a Fortune 500 company headquartered in New York City. The company is a premier provider of specialized insurance products and related services. Currently, it is looking for a Legal Counsel (insurance) to support its young Chinese businesses, based in Beijing. Contact Ally Zhang at (010) 5100-0696 or email.
Corporate Lawyer 每 Beijing 每 Ref: LPF04224
This is a leading international law firm. It is among the world＊s largest law firms. Currently, the firm is seeking Corporate Lawyer, to be located in its Beijing office. Contact Ally Zhang at (010) 5100-0696 or email.
Corporate Counsel 每 Shanghai 每 Ref: LPC10301
This is a global healthcare company with more than 40,000 employees worldwide. It has been a leader in the healthcare industry for more than 70 years. Currently, the company is seeking suitably experienced Corporate Counsel, to be located in Shanghai. Contact Angel Xin at (021) 6249-2300 or email.
For more positions, please click http://www.lawinn.net/service2.asp
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