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Duane Morris Opens Office in Shanghai
Summary: Duane Morris LLP opens Shanghai office eight months after initial announcement. Launch delayed due to obtaining requisite permissions from People’s Republic of China.
Duane Morris LLP has at last announced the formal opening of its Shanghai office. The firm had originally announced plans for the Shanghai office in January of 2014 but the delay was caused in obtaining necessary approval and licensure from the Ministry of Justice of the People’s Republic of China. The Shanghai launch marks the third international opening for Duane Morris and its joint venture, Duane Morris & Selvam, since the beginning of 2013.
Shanghai, China’s largest city, is a global financial and shipping hub. It is among the most competitive financial centers in the world, ranking 16th in the latest edition of the Global Financial Centres Index. Shanghai also boasts the world’s busiest container port. In addition, the Shanghai Stock Exchange is the world’s fourth largest by trading volume and seventh largest by market capitalization.
Duane Morris previously expanded its global footprint in Southeast Asia with the formation of Duane Morris & Selvam LLP in Singapore in 2011, and prior to that in Vietnam, with Duane Morris offices in Hanoi and Ho Chi Minh City. In September, Duane Morris & Selvam established an office in Myanmar, the first of any U.S.-based firm.
Leon Yee, a managing director of Duane Morris & Selvam, will serve as Chief Representative of the new office. He will be joined by Eng Wee Chong, an associate director in Singapore. The Shanghai office opens with five lawyers in total.
Duane Morris Chairman and CEO John J. Soroko said, “Shanghai is another step in our long-term strategy for our international operations generally and for Asia specifically. We intend to facilitate the growth aspirations of Chinese companies seeking to invest abroad. Additionally, many of our clients are themselves entering or expanding in the Chinese market, and we are now even better positioned to assist them.”
The firm will work closely with clients to achieve their investment and business goals in China, with a particular emphasis on facilitating outbound investment for Chinese corporations, as well on supporting inbound investment.
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