The Global Legal Post reports
International law firm seeks Chinese partner
Hogan Lovells is hoping to tap the vast potential of mainland China through an association with a local law firm.
http://www.globallegalpost.com/global-view/international-law-firm-seeks-chinese-partner-63018375/
Patrick Sherrington, its regional managing partner for Asia Pacific, told Bloomberg that a tie-up with a Chinese partner would be the ‘Holy Grail’ for the US-headquartered firm and it is actively seeking the right match. Restrictions on foreign law firms in mainland China and on Chinese lawyers who work for them has led Mr Sherrington to consider the Shanghai Free Trade Zone, where some restrictions have already been loosened.
Untapped potential
Currently, only 7 per cent of Hogan Lovells’ revenue comes from Asia and the Middle East, which Mr Sherrington explained represents untapped potential given China’s $11 trillion economy. ‘We recognise we have to be strong in markets of the future,’ he added.
