Stephenson Harwood ramps up China presence with takeover of US firm's Beijing base
Eleven Troutman lawyers to join Stephenson Harwood as US firm winds down Asian presence
March 28, 2018 at 12:00 AM
2 minute read
The original version of this story was published on Law.com
Stephenson Harwood has bulked up its presence in China with the acquisition of Troutman Sanders' Beijing office, as the US firm winds down its operations in Asia.
Troutman's team in the Chinese capital, which is led by partner Allen Shyu, is expected to join the UK firm on 1 April. It focuses on capital markets work, and is made up of 11 fee earners, including two of counsel.
Shyu joined Troutman in 2012 from Orrick Herrington & Sutcliffe to launch a Beijing office for the Atlanta-based firm, and his practice focuses on the US law aspects of mid-cap equity capital markets offers on the Hong Kong Stock Exchange.
Shyu's speciality in mid-market deals will add a US securities law offering to Stephenson Harwood's greater China practice. Last year, the firm recruited corporate partner Jane Ng from Cadwalader Wickersham & Taft, which also closed offices in Hong Kong and Beijing.
Since 2016, the UK firm has also had a formal association with Chinese firm Wei Tu, which was founded by a group of ex-Stephenson Harwood lawyers.
The new team will bring Stephenson Harwood's Beijing headcount to 21. "This strategic move gives us an opportunity to better serve domestic and international clients conducting business across the region. In particular, Allen's long track-record in capital markets transactions will bring a new dimension to our capabilities in the region," said Voon Keat Lai, Stephenson Harwood's Greater China managing partner.
In January, Troutman Sanders announced it would close its offices in Hong Kong, Beijing and Shanghai after a strategic review found little overlap between the China practice's focus on Hong Kong capital markets work and the rest of the firm's emphasis on energy, insurance, life science, and finance.
Additional reporting by Joseph Evans.
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