Feb 22 2008
skadden’s first week in shanghai
Just wanted to note that it has been one week since Skadden Arps Slate Meagher & Flom, one of the world’s largest law firms, opened its Shanghai office. I hadn’t heard much about it, so I thought I should at least share the (old) news from Legal Week:
Skadden Arps Slate Meagher & Flom [launched] an office in Shanghai on [18 February], with the relocation of corporate partner Gregory Miao, previously sharing his time between Hong Kong and Beijing.
The branch will focus on M&A, corporate and real estate, with Miao leading the corporate practice and Ed Sheremeta heading up its real estate division.
Miao, who was born in Shanghai, is the head of the firm’s China practice. In 2007, he represented China CITIC Bank in a $5.9bn (£3.03bn) shares listing on the Hong Kong Stock Exchange and Shanghai Stock Exchange, one of the world’s largest initial public offerings during the year.
Sheremeta is a partner at the firm’s Tokyo branch. He recently rejoined Skadden and will be based in the Tokyo office until the second quarter. His real estate experience includes non-recourse financings, joint ventures and mezzanine structures.
The launch of the Shanghai outfit takes the number of Asian branches for the top US firm to five, having opened in Tokyo 20 years ago, in Hong Kong in 1989 and in Beijing in 1991. Most recently, Skadden launched an office in Singapore in 1995.
The firm has been planning to expand to Shanghai for some time and applied to Chinese authorities for permission last year. Following the approval, the firm moves into new office space in the city on Monday.
Initially the number of partners will remain at two, but the intention is to develop the practice. The firm is also bringing over additional real estate lawyers from the US, said Skadden executive partner Robert Sheehan.
Recent launches in the city by US firms during the autumn of 2007 include Sheppard Mullin Richter & Hampton, as well as New York firm Fried Frank Harris Shriver & Jacobson.
Expect a lot more firms trying to dig for gold in China.
