(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

Recruitment activities remain steady at the associate level, but we have seen a further reduction in headcount as well as the removal of the cost-of-living allowance (COLA) benefit from some law firms this month. It is certainly an uneasy economy for firms. There are openings, however, in international trade, litigation and finance. These opportunities are available to lawyers with at least 3–4 years of post-qualification experience and who have gained relevant experience at an international law firm. Firms are welcoming applicants from overseas and will relocate candidates to Hong Kong.  

Mainland CHINA

Recruitment activity remained cautious in Beijing and Shanghai. The openings available are mostly in the litigation and investigations space. Lawyers with at least 4 years of post-qualification experience are in demand. Firms are always happy to relocate Chinese nationals, who have gained a couple of years of experience in the US market, back to Beijing or Shanghai.

SINGAPORE

The month of May seems to have flown by and we are almost mid-year. Singapore continues to be robust, with increased levels of social and business activity. The law firm market remains robust, too, albeit cautious in its hiring. There has been a lot of movement in the energy and infrastructure sector, causing some demand for quality associates in these areas. We continue to see a demand for associates in investment funds, financial services regulation and tech. However, we are always keen to talk to high-quality associates in any sector.

SINGAPORE - (Interim)

Major, Lindsey & Africa’s Nina Houston and Thom Burke’s article provides great insights as to the myths surrounding the interim space. The myth that “Interim gigs won’t enhance your resume or help move your career forward”, particularly resonates with the Singapore market (read the full article here). Increasingly, Singapore-based employers are keen to bring well-rounded, business-oriented counsels on board, and interim exposure will get you just that.

SOUTH KOREA

Our Korea consultants are headed back to Seoul in mid-May to meet with Major, Lindsey & Africa’s in-house clients. We know many associates become interested in these types of opportunities as they become more senior, and we look forward to working with more of you who wish to move in-house in the future.

Recently, there have been a couple new roles for corporate associates at international law firms in Korea, which has been a welcome shift. Some of these roles will soon close, but it is a good sign that the market has become busier again.

JAPAN

The private practice market remains largely unchanged since last month, with a limited number of openings for foreign lawyers at the international firms, most of which require strong Japanese skills. M&A is still slow, and many firms are not in a position to increase their headcount as a result. That said, there are roles for Japanese-speaking corporate and finance associates, and a number of firms are open to adding strong bengoshi in multiple practice areas, so this could be a good time to move for associates with the requisite skills and qualifications.

AUSTRALIA

Come May and June, we tend to see a slight decrease in both open roles and candidates looking to make a move due to the upcoming performance and pay review season, but job openings across the private practice market have remained relatively steady. The most notable trend at present is the demand across large firms for senior associates, as opposed to those with less than five years’ experience. Demand is greatest in the energy and renewables space, along with corporate/M&A, investment funds and commercial litigation.

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.

Office openings

Watson Farley & Williams opens in Tokyo
Shin & Kim opens in Singapore
DeHeng Law Offices opens in Seoul