Shearman & Sterling has boosted its Hong Kong law capacity with the hire of two partners from O'Melveny & Myers in the region.

O'Melveny's Hong Kong corporate head Colin Law and corporate partner Peter Chen have left to set up a local law firm, which will be incorporated into Shearman's Hong Kong office subject to regulatory approval.

In addition, Law will co-head the Hong Kong office with Shearman's Asia managing partner Matthew Bersani.

Law's practice focuses on M&A and securities, and he has experience in industries including financial services, insurance, natural resources and telecoms. He is dual-qualified in the UK and Hong Kong.

Chen, who is Hong Kong-qualified, specialises in M&A and corporate finance and has advised on a large number of Hong Kong and London listings.

Shearman senior partner Rohan Weerasinghe commented: "Our new Hong Kong law practice, once approved by the Hong Kong Law Society, will significantly bolster our already formidable Asian capabilities. Colin and Peter are exceptional lawyers, and we are confident that they will be instrumental in the establishment of an outstanding Hong Kong law capability and in our continued growth throughout the region."

Shearman's China corporate team won a number of significant mandates last year, including advising Sichuan Tengzhong on its proposed acquisition of the Hummer brand from GM and the underwriters on Metallurgical Corp of China's $2.35bn (£1.47bn) initial public offering – one of the largest Hong Kong listings in 2009.

Shearman's Asia practice spans offices in Beijing, Hong Kong, Shanghai, Singapore and Tokyo.