Ashurst is set to launch an office in Beijing with the hire of structured finance partner Patrick Phua from legacy Mallesons Stephen Jaques.

Phua will oversee the launch of a representative office in Beijing for Ashurst while the firm's full license is pending.

Phua, who was based in Mallesons' Beijing office, is a banking and finance partner, with a focus on derivatives and structured finance and financial services regulation.

He advises Chinese banks on outbound lending transactions, and foreign financial institutions on cross-border financing transactions involving Chinese borrowers. His experience also extends to foreign direct investments into China, having acted for a number of blue chip clients.

The news comes as Ashurst's combination with legacy Blake Dawson went live today (1 March), a move which has gifted the firm offices in Adelaide, Brisbane, Canberra, Jakarta, Melbourne, Perth, Port Moresby, Shanghai and Sydney.

The Beijing launch is a part of the firm's strategy to grow its Asia business, with the launch marking the combined firm's sixth office in the region.

Ashurst head of Asia Geoffrey Green, who will be overseeing the office, commented: "Through our offices in Hong Kong, Shanghai and, very shortly, Beijing, as well as our alliance with Guantao Law Firm, we believe we now have a very strong base on which to build a market-leading practice.

Phua said: "For me the opportunity to join a leading global team of structured finance lawyers with strong coverage in key markets including London and New York was highly compelling. It is also very exciting to be joining Ashurst at such a significant time for the firm in the Asia-Pacific region and to be part of its ambitious plans in China."

News of Ashurst's launch comes as Mallesons and Chinese giant King & Wood today (1 March) united under the name King & Wood Mallesons. The firms, which agreed the merger in November last year, have combined under a Swiss verein structure due to Chinese regulatory constraints.