The Hong Kong office of Stephenson Harwood is launching into the Chinese New Year with a new name. The rebranding decision stems from the conclusion of a 30-year joint venture between Stephenson Harwood and Hong Kong law firm Lo & Lo.
Formerly known as Stephenson Harwood & Lo, the firm has dropped the 'Lo' from its name effective 1 February 2010 onwards; its mainland China offices will follow suit once PRC regulatory approvals are obtained.
Voon Keat Lai, managing partner of Stephenson Harwood's Greater China practice, told ALB that when Stephenson Harwood first entered the Hong Kong market in 1979, it wanted to do so in joint venture with a prominent local firm. Lo & Lo, meanwhile, operated primarily in property and saw Stephenson Harwood as an opportunity to expand its corporate arm. Since then, Stephenson Harwood has established itself in the market and Lo & Lo has developed its own corporate capabilities.
Conclusion of the joint venture may in fact present new opportunities for both firms. "Each party is released from potential conflict-of-interest obstacles and is less likely to refuse referred work on that basis," Lai said.
"Our relationship with Lo & Lo...remains warm and friendly," said Andrew Sutch, senior partner of Stephenson Harwood.
New hires
Stephenson Harwood has made a series of new appointments in recent months in its Hong Kong and mainland China offices.
This month, Paul Westover rejoined Stephenson Harwood's Hong Kong office as a partner in its corporate department; he was previously a partner at Tanner De Witt. Karen Cheng and Simon Wong also joined the firm's Hong Kong office recently as senior solicitors, and associates Zoe Zhou and Steven Jin joined its Guangzhou and Shanghai office, respectively.
Stephenson Harwood's strategic focus on lateral hires, reflective of its international recruitment policy, is a key component of the firm's growth strategy. "Stephenson Harwood has decided to grow through acquisition of good laterals, who are then assimilated into our firm culture," Lai said. "Organic growth is too slow for a firm of Stephenson Harwood's size and mergers and acquisitions are not on the table at the current time."
Lai said the dampened job market for corporate lawyers in the past year has created unprecedented hiring opportunities, and Stephenson Harwood has capitalised on this.
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