Allen & Overy hires two Ashurst capital markets partners in Hong Kong
Ashurst sees two further partner exits in Hong Kong including former office managing partner
September 15, 2016 at 04:37 AM
3 minute read
Allen & Overy (A&O) has recruited two capital markets partners from Ashurst in Hong Kong, including former office managing partner Lina Lee.
Lee, who ran Ashurst's Hong Kong branch for about a year up until 29 July, joins the magic circle firm with Jonathan Hsui.
Lee joined Ashurst as a partner in 2009 from Clifford Chance, where she was an associate. Ashurst Hong Kong corporate partner Joshua Cole, who joined the firm in late 2015 from King & Wood Mallesons, succeeded her as office managing partner.
Hsui joined the firm in 2011 as counsel from BNP Paribas and became a partner two years later.
When they join the firm, A&O will have six partners in Hong Kong specialising in capital markets work. Both partners focus on equity listings on the Hong Kong Stock Exchange and related rights issues and public M&A
In March, Lee led the team representing Hong Kong-listed China Medical System Holdings on a $500m (£377m) acquisition of two heart drugs from British pharmaceuticals group AstraZeneca. Last year, Hsui advised Japanese trading house Itochu on a $200m (£151m) investment into Hong Kong-listed Chinese apparel manufacturer Bosideng International Holdings.
Lee and Hsui's hires mark the latest efforts by A&O to bolster its equity capital markets and M&A practice in Hong Kong following several departures during the past two years.
Last month, the firm announced that London partner Stephen Miller will relocate to Hong Kong in September to oversee the Asia debt capital markets practice. The firm also hired US-qualified debt capital markets partner Alex Tao in July from Davis Polk & Wardwell.
The additions follow the exits of former Hong Kong equity capital markets partner Vivian Yiu, who joined Morrison & Foerster in March, and US law debt capital markets partner David Kuo, who left in 2015 to join former colleague James Grandolfo at Milbank Tweed Hadley & McCloy. Former capital markets partner Walter Son also left the firm late last year.
Ashurst's Hong Kong office has seen several departures in recent weeks. In September, veteran restructuring partner Bertie Mehigan left for local boutique Howse Williams Bowers, while finance partner Doo-Soon Choi defected to Mayer Brown JSM in August.
The latest exits come as it emerges today that US firm Curtis Mallet-Prevost Colt & Mosle hired Ashurst's Abu Dhabi managing partner Alastair Holland this month. Holland joined the firm's Dubai office on 1 September.
Other recent departures from Ashurst this month in London include a trio of finance partners – Michael Smith, Diala Minott and Cameron Saylor – joining Paul Hastings. Meanwhile, regulatory partner Nicola Higgs is set to join Latham & Watkins in the City.
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