King & Wood Mallesons (KWM) is understood to be taking steps to bulk up its Hong Kong corporate practice with the addition of JP Morgan Chase & Co's vice chair for Asia Pacific Zili Shao, and Herbert Smith Freehills (HSF) partner Gary Lock.

The firm, which was unable to confirm or deny the hires, has previously stated its intention to compete with its rivals on Hong Kong corporate work, and particularly IPO and securities deals.

Last year it appointed two US securities partners, namely Linklaters counsel Hao Zhou, whose focus is on cross border debt and equity capital markets transactions, and another JP Morgan lawyer – the bank's head of legal and compliance for China, Christine Chen, who previously spent nine years at Davis Polk & Wardwell.

Before his move to JP Morgan, Shao – who advises mostly on M&A and private equity – was Asia managing partner for Linklaters. He joined the magic circle firm in 1998 and was responsible for founding its mainland China business, opening offices in Shanghai and Beijing in 1998 and 2001 respectively.

He initially joined JP Morgan as head of China in 2010, and became the Asia Pacific vice chairman in April last year. Earlier in his career he worked as a lawyer with legacy firm Mallesons Stephen Jacques in Melbourne for five years.

Lock has been a corporate partner at HSF for well over a decade, focusing on both M&A and capital markets.

He moved to the firm from its UK counterpart Simmons & Simmons in Shanghai in 2001, and was initially located in the offices of HSF's German partner firm Gleiss Lutz Hootz Hirsch, before opening and heading HSF's own Shanghai base in 2003.

His departure leaves HSF with four mainstream corporate partners in Hong Kong: Austin Sweeney, who heads the practice in Asia outside of Australia, Tommy Tong, Jason Sung and Matt Emsley. The firm also has an energy-focused corporate team and US securities partners.

HSF's corporate group in Asia has undergone a number of changes in the last five years, with several senior departures.

While its regional management roles were previously occupied by corporate heavyweights, all of these are now occupied by disputes partners.

In an email today it declined to comment on Lock's departure, but in a statement on the corporate group generally said its strategy in Asia "has always focused on both contentious and transactional work" and it was committed to enhancing the practice through promotions and strategic hires where it sees opportunities.

Last year the firm promoted three transactional partners in Shanghai, Hong Kong and Singapore, and hired M&A partner Damien Roberts from Ashurst Tokyo.