Gaopeng & Partners’ fifth addition to the partnership this year could be indicative of some major trends permeating the legal services industry.
Former DLA Piper senior associate Xie Xiaoming has joined Gaopeng as senior partner. He will focus on cross-border M&A deals and strategic investment and restructuring advice. Xie joined Coudert Brother’s Beijing office in 2005, and after the implosion of Coudert he ended up with DLA Piper the following year. There, he served international clients like L’Oreal, Boeing, LG, Tesco and Marriott.
Particularly noteworthy, though, are Xie’s reasons for moving from an international to a domestic firm. “There are many limitations to international firms practising in China and as the Chinese law evolves, these limitations are becoming more obvious and difficult,” he said.
Wanting to work closer with clients, Xie believes that ‘domesticating’ is a wise choice. “Domestic firms are more often than not the first point of contact for Chinese companies while international firms are usually referred. Being able to understand the culture of how Chinese clients work with domestic firms will definitely propel me further,” he said.
While the restrictions imposed on international firms is the main reason for his move, he also admits that he sometimes finds it hard to agree with the hefty legal fees that international firms charge. “Domestic firm fees are simply more reasonable,” he says.
Despite the fact that Gaopeng is expanding aggressively with its partner appointments this year, Xie clarifies that the firm retains its traditional belief in steady growth and only hiring top lawyers. 2010 will see the firm actively seeking new Chinese clients venturing abroad, and will keep a close eye on capital markets and international trade.
Gaopeng now has 41 partners in five offices.
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