Global law firm Proskauer announced it has opened an office in Beijing. In so doing, the firm significantly expands its global capabilities and Asia practice.
The firm counts the office as its thirteenth, and it is located in the Chaoyang District of Beijing.
Joseph M. Leccese, Chairman of Proskauer was quoted as saying in a press release at the firm’s website: “This marks the next step in our global strategy of serving the needs of our clients in the major financial markets of the world where they are located and doing business. It will allow us to continue to expand the work we are doing as our clients build their businesses in Asia, enabling them—and us—to capitalize on the full range of available opportunities.”
Yuval Tal, who heads the firm’s Asia Practice was quoted as saying: “We are excited to be able to support our fast-growing practice with an on-the-ground base in mainland China, where many of our clients are focusing their attention, time and money. With 20 fee earners in Asia, we can handle the most sophisticated inbound and outbound transactions.”
The opening of the office has been underway since 2008. At that time, the firm had expanded to Hong Kong, by adding two partners from the now defunct firm of Heller Ehrman, along with the relocation of Proskauer corporate partner Yuval Tal from New York. According to the November 10th amlawdaily.com article, “At Last, Proskauer Rose Opens Its Doors in Beijing”, Tal explained that obtaining the necessary license to open the office, via the Chinese government, was a lengthy process.
According to the amlawdaily.com article, Tal was quoted as saying: “Every transaction we do is multilingual. It very often involves at least two, if not three jurisdictions, and very often two or three legal systems. It’s a very, very exciting kind of practice.”
At first, five attorneys from the Hong Kong office will relocate to Beijing, according to Tal in the amlawdaily.com article. Tal will divide his time between the two cities. The two offices will concentrate their efforts on matters relating to private equity, mergers and acquisitions, and capital markets matters. Many of the clients are from the entertainment, sports, and lodging and gaming industries.
The Beijing office is the most recent opening for the firm. The move follows the firm’s expansion into London and São Paulo in 2007, and Chicago and Hong Kong in 2008.
Global law firm Proskauer Rose, founded in 1875, is one of the largest in the nation, with twelve offices and over 650 attorneys. The firm offers a wide range of services, and attorneys practice in corporate finance, mergers and acquisitions, real estate transactions, bankruptcy and reorganizations, taxation, litigation, trusts and estates, intellectual property, and labor and employment law. The range of clients served is diverse, and includes companies in the chemicals, entertainment, financial services, health care, hospitality, information technology, insurance, internet, manufacturing, media and communications, pharmaceuticals, real estate investment, sports, and transportation industries.