Mergers and acquisitions lawyers were top prospects for global law firms practicing in Asia in 2016. Our analysis of 140 partners hired by Global 100 firms in Asia and Australia last year found that more than one-third were M&A specialists. Out of the 48 M&A partners, 33 were hired to work out of their firms’ Hong Kong or mainland China offices. This isn’t a big surprise, given the record-setting outbound M&A volume coming from China last year. According to data compiled by Dealogic, more than $219 billion in deals came out of China in 2016. For the first time, China overtook the United States in outbound M&A deal volume.
U.S. firms played a big part in driving this trend. Among the biggest moves: Paul, Weiss, Rifkind, Wharton & Garrison picked up Linklaters’ M&A duo Betty Yap and Judie Shortell; Jones Day poached former King & Wood Mallesons energy M&A partners Dirk Walker and Dina Yin; and DLA Piper nabbed former O’Melveny & Myers Shanghai office head Li Qiang.
Beyond China, M&A work was strong across the Asia-Pacific region last year. According to Dealogic, total outbound volume in the region also hit a record, at $445 billion. In Australia, Hogan Lovells lured two M&A specialists from leading local firms—Andrew Crook from Gilbert + Tobin, and longtime Clayton Utz partner Matthew Johnson. In Japan, the Anglo-American firm also recruited former Morgan, Lewis & Bockius Tokyo managing partner Lisa Yano.
