Herbert Smith Freehills (HSF) has said it wants to boost the profitability of its Asia corporate practice by targeting more inbound work from its European clients.

As part of its push for inbound work, the firm has hired two corporate partners from Ashurst: Damian Roberts in Tokyo and Ian Williams in Brisbane

HSF, which has a strong corporate brand in Australia following the merger between legacy firms Herbert Smith and Freehills in 2012, said the practice continues to be a priority in Asia despite its regional management roles being dominated by disputes partners.

Mike Ferraro, global head of the corporate group, said around 50 percent of Greater China deals involved local capital markets work.

He said the plan was to focus on more profitable deals, and to ramp up the firm's private equity offering.

"We're in different market positions in Australia and Asia", he told Legal Week.
"In Australia we're essentially number one, while in Asia, the situation is different because it's more diverse, dispersed and there are smaller offices.

"In Hong Kong and Greater China [particularly] we want to also focus on supporting our global clients… [those] coming out of other parts of the globe and investing into Asia. That's what we're really focusing on over the next 12 months, in addition to our local client work.

"However, I'm trying to persuade some partners to focus more on supporting our global clients rather than only pursuing new ones."

Regional management roles at HSF in Asia were previously occupied by corporate heavyweights, most of whom have now left the firm. Now, those roles have been taken by dispute resolution partners.

Among the first to exit was Asia chief Ashley Alder, who joined Hong Kong's securities regulator in 2011 and was replaced by litigator Mark Johnson, while in 2012 disputes partner Peter Godwin was appointed head of Japan in the wake of corporate veteran Steve Lewis' exit.

More recently arbitrator Justin D'Agostino (pictured) was made head of Greater China after the departure of Andrew Tortoishell, and later replaced by another litigator Julian Copeman after he was appointed head of global of disputes.

In Singapore litigation partner Alistair Henderson was this year made head of South East Asia, following in the footsteps of two corporate predecessors Michael Walter and Austin Sweeney.

Ferraro denied that the changes reflected a shift in practice focus.

"I think disputes has been a stronger brand in Asia, but does that mean that's more focus on disputes compared with corporate? I don't think so."