Sullivan & Cromwell is the latest US law firm to launch a Hong Kong practice, recruiting Freshfields’ Hong Kong managing partner Kay Ian Ng and counsel Gwen Wong, to the partnership. The firm plans to launch its Hong Kong law practice later this year, following the completion of the necessary regulatory approvals.
This announcement marks a continuing trend of US firms developing local legal capabilities in Hong Kong. Skadden was the first to do so in 2005, and has since been followed by many elite US firms in the SAR. Since 2005, Skadden, Davis Polk, Milbank, Latham & Watkins, Cleary Gottlieb, Shearman & Sterling, Weil Gotshal and Simpson Thacher have all launched Hong Kong practices.
American firms seeking to gain local legal expertise have typically raided UK firms in the region. Freshfields in particular has borne significant losses to its US counterparts in the past year. In 2010, the magic circle firm lost partner Anthony Dapiran to Davis Polk’s new Hong Kong practice. Earlier this year, partner Christopher Wong and Linklaters’ Celia Lam were poached by Simpson Thacher & Bartlett to spearhead the development of the firm’s new Hong Kong law practice.
Ng, who was appointed Freshfields’ Hong Kong managing partner in March 2010, will be replaced by Stephen Revel, the global co-head of international capital markets. Revel will relocate to Hong Kong from London. Wong was appointed counsel in October 2010.
Sullivan & Cromwell opened its Hong Kong office in 1992. The firm’s Hong Kong office currently has 14 lawyers, including three partners. ALB
Related stories:
- Trend alert: Simpson Thacher latest US firm to launch Hong Kong law practice (13 May 2011)
- Freshfields recruits Linklaters lawyer to Hong Kong finance practice (20 May 2011)
- Davis Polk scores another lateral from Magic Circle firm (23 November 2010)
