(As excerpted from our monthly Associate Newsletter - Asia Pacific)

Associate Newsletter – Asia Pacific is a monthly resource that reports current legal market news, trends, partner moves and active opportunities in the Asia Pacific legal markets.

Legal Market Summary

HONG KONG

As we approach the end of 2023, some legal recruitment activities are still progressing in Hong Kong. Firms are making progress with candidates they met with speculatively earlier in the year and partners continue to be open to having conversations with strong candidates, especially in the banking and litigation space. Firms have also reached out to replace lawyers who may have left earlier in the year.

Mainland CHINA

The Beijing and Shanghai markets remain cautious when it comes to recruitment. A few firms are selectively looking at strong senior FCPA investigation lawyers. Chinese nationals with overseas experience are still sought after.

SINGAPORE

As the year draws to a close, the legal industry has witnessed an intriguing landscape in partner recruitment. Amidst shifting market dynamics and heightened demand for specialized expertise, law firms have demonstrated a strategic focus on attracting top-tier partners. The competitive environment has led to a noticeable trend of firms diversifying their recruitment strategies, emphasizing not only traditional metrics like book of business but also placing substantial emphasis on cultural fit, industry alignment, and technological prowess. The end-of-year market report indicates a resilient yet adaptive approach by law firms in their pursuit of exceptional talent, recognizing the evolving needs of both clients and the legal landscape itself.

SINGAPORE - (Interim)

With 2023 coming to a close, companies are gearing up for hiring for 2024. With a contract-focused approach, both companies and lawyers can use the interim model to assess whether the role is suitable and a good fit.

JAPAN

Although the end of the year is traditionally a slow time for firms in Japan due to the long New Year’s holiday, a number of US and UK firms have finally opened new roles for international associates after a quiet year, in areas spanning finance, M&A, antitrust and international arbitration. While some firms have truly suffered over the past year or even two due to the slowdown in outbound M&A and weak yen, others appear to be entering into growth mode, reflecting the disparate impact of global trends and firms’ differing strategic directives regarding the Japan market. We are hopeful that the uptick in associate openings is a sign of renewed hiring and a more buoyant market in 2024.

AUSTRALIA

Recruitment activity across the private practice market will grind to a halt as law firms across Australia close for two weeks over the Christmas and New Year break. Activity will slowly pick up again come mid-late January. In terms of market demand, we have been briefed by prominent firms on several senior associate-level searches in M&A, private equity, banking, finance and real estate. The market remains relatively subdued regarding levels of recruitment activity but there is cautious optimism for a busier 2024.

Partner Moves

Partner moves are obtained from both public sources and Major, Lindsey & Africa market intelligence. The list is not intended to represent Major, Lindsey & Africa as the consultancy involved in the moves, although some moves may have been brokered by Major, Lindsey & Africa.