Morning Briefing: Law firm's forecast on Asian-Pacific region

by NZ Lawyer08 Jan 2015
Outlook for Asia-Pac according to DLA Piper
DLA Piper has held a press conference to set out its forecast of key market trends for the Asian-Pacific region during 2015. The firm expects a year of opportunity with Chinese companies considering their options for IPOs perhaps following the Alibaba lead with a US listing. Hong Kong, while still a preferred option for offshore listings is likely to face increased competition. Anti-trust compliance and investigations will continue to gain momentum, following an increase by Chinese authorities last year. DLA Piper also expects Chinese investment in Australia to grow this year and is also optimistic of investment coming to Asia-Pac from other regions.

Allen & Overy boosts profits after cuts
Allen & Overy has increased profits by 7 per cent with profits per equity partner at 6.7 per cent for 2013/14. Turnover was up 1.6 per cent to AU$ 2.2 billion and profits were AU$ 998m thanks to lower staffing costs and setting up a dedicated service centre in Northern Ireland.

Asia real estate practice expands for Ropes & Gray
A new partner in Ropes & Gray’s Hong Kong office will add strength to the firm’s global real estate investments and transactional practice. Eduard Sheremeta has 15 years experience in the sector having previously been with Skadden and DLA Piper. He becomes the firm’s 80th lawyer in Asia-Pac with offices in Seoul, Shanghai and Tokyo in addition to Hong Kong.

New global finance head for Stephenson Harwood
Sue Moore has been appointed head of the global finance practice for Stephenson Harwood. She has been with the firm for 2 years and specialises in restructuring and insolvency. Moore has replaced Mark Russell who headed the finance team for 18 years.

You’re never too old to forge a new path
Having built a successful law firm with 230 lawyers and having racked up an impressive 44 years with that firm you might think Michael V Ciresi would stay put until retirement. However the prominent trial lawyer and former Senate candidate has other ideas. He is leaving the firm where he is a name partner, Robins, Kaplan, Miller & Ciresi in New York, and setting up a boutique firm with two other partners and a team of 7 associates. The veteran lawyer, one of the richest in the US, says he wants to spend more time on charity work and work with a wider range of clients.