Going Local: Shearman Acquires Hong Kong Law Practice

, The American Lawyer


Shearman & Sterling's announcement this week that it has acquired a Hong Kong law practice again is spotlighting an ongoing debate among leading Wall Street firms about whether or not to go local in the red-hot market. Shearman has recruited Hong Kong-qualified partners Colin Law and Peter Chen from O'Melveny & Myers. The move follows a year in which the Hong Kong market led the world in initial public offerings, raising $27.2 billion.

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