Linklaters has appointed London-based partner Stuart Salt to head its Asia offices as the current managing partner Zili Shao steps down to join firm client JP Morgan this month.
Salt is currently in charge of the firm’s Europe, Middle East and North Africa (EMENA) operations but will step down once a successor has been appointed. A spokesman said the firm is launching a consultation process for his replacement.
Salt has spent a year developing the firm’s EMENA business since his appointment to the position in March last year – around the same time that Shao took up the job as Asia managing partner and replaced Giles White, who similarly stepped down to join a firm client. Prior to that he was head of the Asia banking & projects business for three years, which the firm’s managing partner Simon Davies said had been a reason for his promotion. “Stuart’s …significant regional management experience and success in Asia make him ideally suited to the role,” he said.
Salt will return to the Hong Kong office to oversee the 300 lawyers across the firm’s six Asian offices and the firm’s joint China managers – Celia Lam and Marc Harvey. He will also use his experience in the Middle East region as an area of focus for the Asia business. “Cross-border activity between Asia and the EMENA region is now a major area of global investment and our clients are at the forefront of this,” said Salt.
Linklaters’ revenue for the first half-year of 2009-10 was £591m, which is a 10% decline from the same period in 2008. Davies said this drop was due to a lack of M&A activity.
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