Dorsey & Whitney seals Shanghai alliance after recent local losses
Dorsey & Whitney has struck an alliance with 20-lawyer Shanghai boutique Martin Hu & Partners (MHP), reports The Asian Lawyer. The move comes as the US firm aims to bolster its presence in the city after a pair of recent departures including the exit of corporate partner Michael Chin to Hogan Lovells.
August 24, 2011 at 05:18 AM
2 minute read
Dorsey & Whitney has struck an alliance with 20-lawyer Shanghai boutique Martin Hu & Partners (MHP), reports The Asian Lawyer.
The move comes as the US firm aims to bolster its presence in the city after a pair of recent departures including the exit of corporate partner Michael Chin to Hogan Lovells.
Chin's departure came a month after Dorsey's former regional managing partner Jay Yan left for Reed Smith to help that firm enter the increasingly crowded Shanghai legal market.
The MHP alliance ramps up Dorsey's capabilities in Shanghai, a market it first entered in 2001. The firm only has six lawyers on the ground in the city, with Shanghai managing partner Peter Corne the sole remaining partner.
MHP opened in 2008 after name partner Martin Hu left another Chinese firm, Boss & Young, which he co-founded a decade earlier.
MHP will serve as special counsel to Dorsey on Chinese legal issues. Dorsey, in turn, will offer US and other non-Chinese legal expertise to MHP. As foreign law firms are not permitted to practice local law in China, it is standard for them to refer local work to domestic firms. It is unclear whether the alliance is exclusive.
According to the most recent Am Law 100 financial data, 570-lawyer Dorsey saw gross revenue fall nearly 6% last year to $322.5m (£195m), while profits per partner increased 13% to $565,000 (£342,000).
A number of US practices have been busy in Shanghai this year, with Cooley and Ropes & Gray among a raft of firms to have announced local launches.
The Asian Lawyer is a US affiliate title of Legal Week.
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