Dentons overhauls China governance structure
The China arm has been restructured to bring partners outside Beijing into the firm's decision-making process
September 07, 2016 at 08:53 AM
2 minute read
Dentons has completed a restructuring of its China arm that includes the creation of a 17-member regional board.
The new governance structure, which was voted in last month, is made up of an advisory committee, a China regional board, a supervisory committee and a management committee.
The advisory committee, which includes 83 members from offices across China, is headed by legacy Dacheng's former managing partner Wang Zhongde, who retired from the partnership in 2014.
Legacy Dacheng founder Peng Xuefeng has been elected chairman of the firm and will now lead the 17-member China regional board.
He will also sit on the firm's global board alongside China chief executive officer Xiao Jinquan, who heads the China management committee, Beijing partners Qian Hongji and Zhu Yongrui, Shanghai-based partner Wang Hanqi, Guangzhou partner Lu Yuefeng, Nanjing partner Li Chen and Kunming-based Ma Wei.
Beijing disputes partner Jiang Rongqing serves as head of the new supervisory committee.
China CEO Xiao Jinquan said: "In the past, the management committee consisted mostly of Beijing partners. The purpose of restructuring the China board is to bring more regional partners into the firm's decision-making process."
Dentons' China arm has a total of 560 partners, who voted through the changes.
Earlier this month, the firm's continental European partners were asked to inject between €6m (£5.05m) and €7m (£5.89m) of additional capital into the business during the next two years.
The move, which follows a partner vote in favour of raising capital contributions last month, does not include the UK partnership or any other part of the verein-structured firm.
It will see European partners asked to pay in up to an extra €100,000 each across a two-year period between 2017 and 2018.
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