Joint venture firm Baker & McKenzie.Wong & Leow has hired a new finance & projects partner, Henry Cort, in Singapore. He has significant experience advising on infrastructure projects within the power, water and the telecommunications sectors, which should assist in the development of the firm’s finance & projects practice in Southeast Asia and attract infrastructure-related work.
Infrastructure clients will, no doubt, be attracted to Cort’s deal experience, which includes advising on several water and power projects in the Middle East, including the successful closing of the US$2.5bn Shuqaiq II IWPP (independent water and power plant) in Saudi Arabia. He is currently advising on a water treatment project in the Middle East and will soon be acting on some power development projects in Indonesia.
Additionally, Cort is focusing on Middle East interest in investments in telecomms infrastructure in the South-East Asian region. “Some of Henry's contacts are considering investments in Asian infrastructure projects, and many Asian infrastructure clients want to use an advisory team that includes counsel resident in South East Asia that have on-the-ground experience of the implementation of major projects in the Middle East and the local laws,” said James Huang, head of the finance & projects group.
Cort’s appointment is a sign of confidence in the local market, coming in contrast to the news that Baker & McKenzie reduced its staff in its Greater China offices by 11%, after the firm’s Asia offices reported a profit dip earlier this year. While the firm is already well-staffed in the region, it is open to considering making further staff appointments for those with relevant expertise, on an opportunistic basis.
“We expect to see an upturn in power and water project work in particular, within South-East Asia,” said Huang, “as well as participation by South-East Asian banks and developers in the ongoing infrastructure boom that is continuing, despite a tighter credit market, in certain parts of the Middle East.”
Cort was previously a partner at Trowers & Hamlins and was located in the firm’s Dubai office. His experience in the Middle East ties in nicely with the opening of Baker & McKenzie’s Abu Dhabi office in February this year. Large infrastructure projects often involve cross-border elements and Cort will advise local clients on their Middle East investments, and those clients based in the Middle East on their investment into Asia. “This pattern of investment is expected to continue and increase in both directions,” said Huang.
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