The country's recent decision to speed up the process of turning Shanghai into a major international financial centre on par with New York or London, has made some forward-looking international firms hasten their growth plan in the city. Vinson & Elkins provides a point in case: it has recently added one partner and three associates to its Shanghai office.
The new partner, Jay Kolb, is an experienced international M&A and project development and finance lawyer with expertise in the energy industry, particularly the development of LNG and oil and gas pipeline projects. Kolb joins Vinson & Elkins from 4Gas in Houston, an independent company dedicated to the developing and operating of LNG import and regasification terminals. Prior to joining 4Gas, he was a lawyer at Baker Botts for 25 years, where he opened and served as the partner in charge of three of the firm's international offices – Moscow, London, and Baku.
Vinson & Elkins stated that the addition of partner Jay Kolb will support the next phase of the firm's growth in Shanghai, which will see the current headcount of 11 legal professionals to up to 20-25. In anticipation of this growth, its Shanghai office moved to a new, larger office premises late last year.
"The continued development of our Greater China and broader Asia practice requires a larger presence in Shanghai," said David Blumental, partner and chief representative of Vinson & Elkins Shanghai office. "Shanghai is a key regional centre for finance, trade, petrochemicals/chemicals, manufacturing, shipping and related infrastructure. A material portion of China's wealth and economic output is concentrated in the city and the surrounding East China area."
In addition to the new hires in Shanghai, Vinson & Elkins has also promoted Nicholas Song from senior associate to counsel in Beijing, while recruited two new associates in Hong Kong.
Related stories: