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DLA Piper unveils strategy to streamline international operations
U.S.-based DLA Piper intends to further strengthen its European Merger & Acquisition practice group. The firm will create 35 new management positions, while its international practice will be differentiated into eight sector-focused groups. The firm also plans to promote partners of its European offices to senior management positions, to encourage their involvement in the firm's decision-making process. The additional responsibility of financial reporting will be shifted from regional managing partners to the individual heads of the group. The strategy implemented by the firm follows the review of its operations in UK, Asia, and Europe.
From 19 to more than 1000 people, DLA Piper has consistently increased its strength ever since May 2002 and has made significant progress in its Continental Europe operations. With increase in size and geographical reach, the firm feels that implementation of new management structure is essential to efficiently manage operations.
The law firm has embarked on massive growth strategy in Asia, where it intends to strengthen its banking practice and capital markets capability. To boost its Asia banking practice, the firm recently hired Andrew Wang, former head of legal department of Bank of China. Earlier this year, the firm braced up its Asian practice by hiring Henry Wang, former General Counsel of Shanghai GM Automotive; and Jeffrey Tan, former Motorola Asia-Pacific General Counsel.
Vinson & Elkins props up Asia practice with office in Hong Kong Vinson & Elkins bolstered its presence in Asia by opening its seventh international office in Hong Kong. The firm's operations in Hong Kong will be taken care of by Jay Cuclis, former partner of the firm's international practice in the U.S. With its presence in Hong Kong, the firm intends to cater to clients throughout East Asia, as well as in other international markets such as Southeast Asia, the Indian subcontinent, and the Middle East.
After Fulbright & Jaworski and Baker Botts, Texas-based Vinson & Elkins is the third firm to expand its presence in Asia. The firm's offices in Beijing, Tokyo and Shanghai now have more than 20 lawyers and legal professionals focusing on general corporate advisory matters, foreign direct investment, M&A, structured and syndicated finance, project finance, joint ventures and energy restructuring, intellectual property protection, and dispute resolution. As part of the growth strategy, Vinson & Elkins is also working towards expansion of its practice in New York and London
Hong Kong has emerged as an important financial center with focus on international trade and investment. The region's tremendous progress has seen influx of major U.S.-based law firms like Baker & McKenzie, DLA Piper, and Jones Day setting up their shops.
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