China's 'kid' law firms are growing up

Rupert Li, the International Managing Partner of Beijing-based firm King & Wood, describes his firm as being a ‘kid’ that is ‘light years behind’ the London and Wall Street firms with which it worked on the Agricultural Bank of China Ltd.’s $22.1 billion share sale. But these newish Chinese firms are fast becoming a significant presence in the global market for legal services. Peter Siembab, who heads Nomura Holdings Inc.’s legal team for investment banking in Asia, said: “These firms used to only practice Chinese law but now are picking up international practices and opening offices all around the world.” He added: “They will continue to gain market share from the US and European law firms.”

China's 'kid' law firms are growing up Tue, Oct 5, 2010