Linklaters Managing Partner in Hong Kong has moved to pastures anew.. he’ll now be heading up Morgan Stanley in China
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A press release reveals? that J.P. Morgan (JPM.N) said on Monday that it has appointed Zili Shao, a managing partner at law firm Linklaters’ Asia, to be chairman and chief executive of its China business.
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The bank said it had also appointed Fang Fang, chief executive of J.P. Investment Banking China, as vice-chairman of its Asia Investment Banking operations.
Reuters reports…
The move comes as Western banks seek to bolster their China operations as Chinese companies increasingly focus on regional and global expansion.
Fang would lead the firm’s investment banking strategy and business development efforts involving China and all markets across Asia including Japan, Australia and India, the bank said in a statement.
J.P. Morgan said Shao’s role as CEO would strengthen the firm’s senior China management and help develop additional financial products and services for corporate and investor clients
http://www.reuters.com/article/BROKER/idUSHKG27400020091123
Also worth a read is the editorial published by the Lawyer (UK) on learning about Shao’s move
They write:
LAWYER NEWS DAILY – 23/11/2009
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Linklaters’ bittersweet symphony
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The best thing about breaking up is the making up. Linklaters would certainly see it that way.
As we report today, its Asia managing partner Zili Shao is leaving the firm for JPMorgan, just a few short months after he was tussling with litigator Marc Harvey for the top job in the region.
Leaving a top job six months into a top role would not normally fill your workmates with deep joy, particularly if that role was contested (see story).
However, the statement by Links’ boss Simon Davies today showed the firm was looking on the bright side. “We look forward to working closely with Zili as a client,” he said.
You bet he will be. As The Lawyer revealed last year, Linklaters got into all sorts of hot water after it sued Bear Stearns (now owned by JPMorgan) on behalf of Barclays (23 June 2008). Linklaters was dumped off the JPMorgan panel, despite high-level negotiations led by senior partner David Cheyne.
With Linklaters winning the mandate for JPMorgan on its ?1bn Cazenove deal, the news is almost enough to put a shine on its 10 per cent drop in turnover at the half-year stage (see story).
Almost, but probably not quite.
