Linklaters has promoted Zili Shao, the firm's current managing partner for Greater China to Asia managing partner, succeeding Giles White who is retiring from the partnership to take on the role as Group General Counsel at Jardine Matheson.
As the new Asia managing partner, effective as of 1 May, Shao will join the firm's Executive Committee, which is responsible for the management of the firm. He will also relocate from Shanghai to Hong Kong for his new role.
Shao has been the managing partner of the firm's practice in Greater China since 2003 and headed the firm's China practice from 1998 to 2003, during which time he helped with the establishment of the firm's Beijing and Shanghai offices. He is also a renowned dealmaker in the region and has advised on a number of major deals, including Carlyle's acquisition of a stake in China Pacific Life and RBS's US$100bn takeover of ABN AMRO.
Shao's promotion is a reflection of the firm's continued commitment to the China market, but Shao also noted that Asia practice as a whole forms an increasingly important part for Linklater's global business.
"Asia has been a key growth market for the firm and it is increasingly important in today's challenging economic climate," said Shao. "The number of transactions between Asian countries, particularly China outbound investment into neighbouring countries, has becoming more active and that has created many new business opportunities for us."
Several other magic circle firms have also made adjustment to its Asia management, demonstrating the same kind of recognition as Linklaters does. For example, Freshfields recently appointed London-based partner Simon Marchant as its new Asia managing partner to be based in Hong Kong, a position which has been left vacant for three years, while Herbert Smith established two new Asia management positions designed to improve regional collaboration earlier this year.
Although having significant management experience, Shao said leaving his comfort zone for new challenges could be hard work. He will start his new role by studying more about other key markets in the region, such as India, Singapore and Japan.
Another challenge for Shao during his four-year term will be finding the balance between servicing clients as well as focusing on manage the firm's operations in Asia.
Following Shao's appointment, the firm has made up three new partners and appointed four new counsel to the firm's Asia offices, also effective as of 1 May. By then, the firm will have 51 partners and more than 280 lawyers in its six offices across Asia.