New Office

Ogier Launches Shanghai Office, Hires Top Lawyer

Tara Loader Wilkinson Asia Editor 5 July 2011

Ogier Launches Shanghai Office, Hires Top Lawyer

Ogier has become the first offshore law firm to launch an office in mainland China, in a bid to tap the region’s growing pool of wealthy entrepreneurs.

Heading up Ogier Shanghai is Kirsty Calvert, a new hire from the China offices of mining firm Rio Tinto, where she was a legal director. She is a native Mandarin and Shanghainese speaker.

Group chief executive of Ogier, Nick Kershaw, told WealthBriefing in a telephone interview that the high proportion of first generation entrepreneurs in the region makes an appealing client base.

“It is a great opportunity for us to create relationships with individuals now who are rapidly growing their businesses. We will be able to provide clients with access to Ogier’s global office network and services including M&A and corporate and transactional advice, private equity funds, trustee services and debt and equity initial public offerings. But we also provide fiduciary services and we can oversee the personal side. We can advise on private wealth arrangements and private investment funds. If you can get in early ahead of everyone else, business clients can become valuable private wealth clients too.”

A flurry of recent liquidity events has helped consolidate China's position as a global financial centre, as many firms opt to list their shares in Hong Kong, including asset manager Glencore and fashion retailer Prada. Industry experts predict liquidity events in Asia will soar as self-made wealth in the region swells; Asian wealth is expected to grow at a rate of almost 12 per cent annually over the next five years, according to The Boston Consulting Group. 

Kershaw added that Ogier is now the only firm qualified to offer advice on British Virgin Islands, Guernsey and Jersey law in the local time zone and language. He added that one of the main challenges of doing business in the region are the low fee revenues. 

"Emerging markets such as China require more competitive fee levels but it is all part of building a business."

Ogier has had a presence in Hong Kong since 2007 and last year relocated several senior lawyers from Guernsey and Jersey to its Hong Kong division, including Marcus Leese, partner in the Guernsey office. The team of 40 is Ogier’s fastest growing one, said Kershaw.

 

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