Despite expectations of significantly increasing client activity over the next few years, Freshfield’s newly minted regional managing partner Robert Ashworth is bracing the firm for increased competition from its US competitors in equity markets and M&A.
Ashworth – a senior corporate partner in Hong Kong since 1994 and head of the firm’s corporate business since 2000 – was promoted to the role of regional managing partner in mid-January. He succeeded Simon Marchant, who returns to the firm’s London corporate practice.
“We are aware that a number of the US law firms are increasing their Hong Kong law capabilities, with a view to capturing securities and M&A work in particular,” Ashworth told ALB, explaining that this would increase competition for listings work as well as Hong Kong-led M&A transactions.
Ashworth outlined plans to grow the size of the firm’s operations in Asia – particularly Greater China –but said he does not have any current plans for opening additional offices in Asia yet.ALB