Field Fisher Waterhouse has secured a presence in Asia through a tie-up with Shanghai outfit Ryser & Associates.

The City firm, which is eyeing corporate and intellectual property (IP) work in China, has set up a Swiss Verein with the three-partner firm under the name of Field Fisher Global, which goes live today (8 July) and will operate as Field Fisher Ryser (FFR).

The combination is a significant step for Field Fisher, which has been seeking an Asia presence either in Shanghai, Singapore or Hong Kong. The firm previously had an office in Tokyo which closed last year after the departure of its sole partner, corporate lawyer Teruo Kato.

"A key aspect of the two firms coming together was the opportunity to have a credible base in China built on the IP/IT and corporate focus of both firms," said Field Fisher managing partner Michael Chissick.

"We hope Field Fisher Ryser will continue to grow over the next few years and help our clients realise their ambitions and strategic plans in China whilst also enabling us to better service our growing Chinese client base."

Ryser, which was set up in 2004, is a 14-lawyer Shanghai outfit managed by former Baker & McKenzie IP partner Zoe Zhan. Like Field Fisher, its core practice areas are IP and corporate, while the two firms already share some Chinese clients.

Under the deal structure, Field Fisher and FFR will continue to operate as two separate profit pools, but will share IT and communication systems and know-how.

Full financial integration is an option in the future, a FFW spokesperson said, either in China should there be changes to regulation regarding foreign ownership of law firms or in other jurisdictions to complement geographical expansion.

Currently Field Fisher has just one office in Shanghai, but is mulling plans to open in Beijing to further tap outbound investment from the Chinese market. There are also options for expansion elsewhere in Asia.

The possibility of the combination was presented to partners last November, with Zhan giving a presentation to the firm at the annual partner meeting in London. The tie-up received the necessary 80% partner approval after a vote which concluded in mid-June.

FFW also has six European offices in London, Manchester, Brussels, Hamburg, Munich and Paris, in addition to a branch in Palo Alto launched in September last year. The decision to combine with Ryer follows failed merger talks with Lawrence Graham and Osborne Clarke last year.