January has seen some bad news on the prospects for lawyers in the Middle East, followed by some good news for expats considering the region in general. On the heels of this, comes word that the region is not as expat unfriendly as has been suggested by an earlier Forbes report (via zawya) indicating that the UAE ranked at the bottom of a list of expat friendly countries.
“The ranking was based on the HSBC’s Expat Explorer Survey, which this year polled 3,385 expatriates in 100 countries about everything from where you can get a swimming pool and more luxurious holidays to what countries offer the best access to healthcare.
But what perhaps led to the UAE’s low score were certain parameters like the expats’ ‘ability to befriend locals, success in learning the language, integration into the community and ease of fitting into the local culture.’
Almost instantly, expatriates living in the UAE as well as Emiratis took offense to the skewed ranking, venting their feelings and opinion primarily on Twitter, and creating a hashtag # UAE Friendly to defend their home or second home, as the case may be.
‘I consider UAE my second home,’ tweeted Dara Al Hadidi, who goes by the Twitter handle @DaraaaH.
‘You can’t call a country that hosts 209 nationalities unfriendly. We’ve more countries here than the Olympics’ said @KhalidAlAmeri.
‘If UAE wasn’t a friendly country, why would people from all over the world consider it their second home?’ tweeted another user.
The outpouring was huge, and almost every comment went on to support the UAE and ridicule the rankings, to the extent that it led the Forbes magazine to reconsider its listing and, in fact, take an absolute U-turn.
‘[A]ccording to HSBC’s survey, expat paradise does exist: in Singapore, Hong Kong or the United Arab Emirates,’ wrote Dan Bigman, Executive Editor for Business News at Forbes, in a what is been largely seen as a retraction by the magazine.”
Good (and unsurprising) news, although the UAE is certainly a somewhat more difficult transition for expats than, say, Hong Kong. But, there is still a fast opening market there and plenty of opportunity for expatriate and repatriate lawyers, so please visit us at Law Alliance to see where your next career move may take you.
Brookings Institute Says the Middle East Boasts Some of the Fastest Growing Cities in the World
While there has been some less than encouraging news for lawyers and staff in the Middle East lately, a new report from the Brookings Institute suggests that the region is still growing into an economic powerhouse, outside of oil. According to a report from zawya.com, Riyadh and Jeddah had the 2nd and 3rd highest growth rates in the world from 2010-2011:
“Their performance was only bettered by the Chinese economic engine Shanghai, which saw its income rise nearly 10% during the 2010-11 period.
Riyadh posted a 7.8% rise in income and 6.3% growth in employment to emerge as the second fastest growing metropolitan in the world.
Jeddah fared extremely well too, registering a 7% rise in income and 5.5% in employment to claim a distinguished third place.
The performance of the two Middle East cities is even more commendable given the unrest in the region last year. Of course, both cities were buoyed by high oil prices and the economic stimulus announced by the Saudi Government as a direct response to the Arab Spring revolution exploding across the region.
Riyadh, which previously ranked 17th in the survey, saw a great jump partially because of growth in local markets, business and finance and manufacturing according to The Brooking Institution’s data, which tracks 200 of the largest cities across the world.
‘This 2011 Global MetroMonitor identifies large metropolitan areas that led or lagged on economic growth from 2010 to 2011, the latest year of a still-volatile period for the global economy,’ said the report. “It further explains how and why metropolitan performance shifted in 2011 versus previous years, and identifies metro areas that have fully recovered from the great recession, those still in recovery mode, and those that continued to lose ground last year.”
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‘The 200 largest metropolitan economies are a diverse lot, both in terms of sheer size and relative wealth. Even though Tokyo’s GDP shrank by about 3% from 2007 to 2011, it still possesses the largest metropolitan economy in the world, valued at roughly USD1.3 trillion, in 2005 dollars. New York has the world’s second-largest metro economy — equal in size to that of the nation of south Korea,’ said the Institution’s report.
‘The other largest metro economies are located in Western Europe (London, Paris, Köln-Düsseldorf), Asia (Osaka, Seoul), and the United States (Chicago, Los Angeles, Washington, D.C.). These 10 metro areas represent 27% of the combined GDP of the world’s 200 largest metro economies.’
‘In contrast, eight of the ten largest metro areas by population are found in developing countries, and include three in china (Chongqing, Shanghai, Beijing), two others in Asia (Jakarta, Mumbai), two in Latin America (Mexico City and São Paolo), and one in Africa (Cairo). Together, those 10 metro areas house about one-quarter of the combined population of the 200 metro areas.’
You can read the full story here…
Good news to offset some the bad news about law firm layoffs. The region still presents an undeniable opportunity for growth for international firms, as well as jobs for expats looking to work in-house. To see what’s on offer on Riyadh, Jeddah and other Middle East cities, please visit us at Law Alliance.
International firms are gearing up to build up their services in Japan in 2012 as Hong Kong’ Deacons has tapped Hiroko Nakamura to lead its Japan Services Group, according to ALB News:
“Nakamura’s areas of expertise are M&As and commercial matters, handling joint venture agreements, employment contracts, licensing agreements, distribution and franchise agreements, as well as debentures and guarantees.
Nakamura, who joined the firm in 2001,also focuses on commercial litigation and dispute resolution, in addition to advising on marine, aviation, and insurance litigation. She advises on international trade disputes, debt restructuring, and insolvencies as well.
“Having a Japanese who can practice Hong Kong law gives us a distinct advantage. As well as understanding Japanese business culture, our Japan Services Group can provide client-friendly written and oral advice in Japanese, English or Chinese,” said Susan Gordon, Head of Deacons’ Commercial Department, in a statement.”
Meanwhile, Clifford Chance has added to its Japan derivatives and structured products team, as Aaron Comerford has come over from Allen & Overy:
“Cameron was counsel in Allen & Overy’s Tokyo office. His experience includes credit derivatives transactions, financial guarantee products, synthetic instruments and structured equity derivatives. He has particular knowledge of OTC derivatives and financial market regulation.
The appointment of Comerford comes on the heels of Wendy Yeo’s promotion to counsel in the team. Paget Dare Bryan, Asia Pacific Head of Derivatives, said, ‘Our team has grown substantially in the past two years ,and with the addition of Aaron and the promotion of Wendy, we can boast of the strongest team across Asia-Pacific.’”
To keep up on the latest news on find moves around Asia, follow us and visit Law Alliance for the latest jobs for expat and repat lawyers in Asia.
Rollonfriday is reporting that partners at Freehills and Herbies will be meeting to discuss closing a deal to make the outfits yet another super-sized firm.:
“Suggestions of a union between the pair have been doing the rounds for a while. Back in December, RollOnFriday reported that Freehills and Herbert Smith may be looking to hook up. A source depicted the potential merger in less than flattering terms, pronouncing Freehills as “desperately seeking a date” and Herbies as “the last thing left on the dance floor which Freehills has a chance of getting off with.”
But obviously the first dance went well, as the two firms are now engaged in more serious talks, according to a Legal Week report. It seems that partners at Freehills gave the go-ahead to ramp up of discussions with the UK firm at the end of last year and Herbies has circulated an internal memo about future plans in Australia. But it’s not yet clear whether the firms are looking at a full merger or a looser association.”
Well, the move makes sense given both firm’s need to expand into Asia, but as we saw last year, there are plenty of hurdles to clear before this latest megrer is a done deal.
To see what’s on offer from these firms and others in Asia, please visit Law Alliance.
Friday Featured Jobs: Shanghai
Every week we post our latest job openings in Singapore, Hong Kong, mainland China and more. As Asia continues to have a high demand for highly qualified legal professionals we are seeking top flight attorneys interested in the expat life. This week we focus one of China’s premier cities, Shanghai:
This highly respected firm is seeking an M&A associate to join their dynamic team. Candidates should be PRC qualified and have experience working with M&A transactions. Fluency in Mandarin and English is required. Excellent salary.
2. Energy Litigation Lawyer- 2-5 PQE – Shanghai
This highly regarded international law firm is now looking for an energy litigation lawyer to join its practice for its Shanghai team. You will have a chance to work on high profile cases with a focus on oil & gas disputes acting for contractors, sub- contractors, operators, underwriters and lawyers from a range of jurisdiction. Great career prospect and competitive salary package.
3. Commerical Associate- 3PQE+- Shanghai
Mid-level corporate associates with strong M&A and corporate finance projects experience with a PRC qualification. Excellent knowledge of the Hong Kong Listing Rules and Takeovers Code. Fluency in Mandarin and English would be a distinct advantage. The successful candidate will be rewarded with a highly competitive package and a friendly, close knit and stimulating working environment.
To apply for these and other positions, please visit our job search page at Law Alliance.
Legal Process Outsourcing: How a Soft Job Market and Liability Concerns Could Stem the Tide.
For a few years, there has been an unmistakable rise in the number of big law firms that have begun outsourcing low level work to emerging market countries, most notably, India. However, firms have begun to see the downside, as clients have complained about shoddy work product and concerns about confidentiality. Not only that, but the number of recent law school grads who can’t find work at anything approaching pre-2008 compensation levels has narrowed the gap between what firms pay overseas workers and legal professionals in their home markets. Fronterion, a legal process outsourcing (LPO) company, just published its top ten trends for the industry in 2012 and these developments figure prominently:
“Legal Process Outsourcing (LPO) firms face the most challenging year in the industry’s short history as the traditional LPO model comes under threat from technology, formidable new competitors and rising wages in emerging markets.
For the third year in a row, Fronterion is releasing its highly anticipated report, Fronterion Ten for 2012: Top 10 Trends in Legal Outsourcing for 2012. Countless hours of research and consulting experience by Fronterion professionals – including direct interactions with vendors and buyers of LPO services – have gone into this year’s trending report.
The result is a vital guide to the trends impacting the LPO landscape in the coming year. Past trending projections have been reported in the ABA Journal, Legal Technology News, Lawyers Weekly and many other publications.
As the LPO industry continues its evolution from a niche practice to game-changer and as numerous challenges lie ahead, 2012 is poised to be another dynamic year.
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1. Profitability Squeeze for LPO – The shrinking gap between wages in the developing and developed countries and accelerating growth of onshore LPO services will combine to squeeze margins for LPO vendors in 2012.
2. Growth Beyond Litigation Support – The unsustainable concentration of litigation support services presents one of the most fundamental challenges facing the industry in 2012. LPO firms must diversify into other practice areas such as M&A and contract management.
3. Technology and LPO Combine – In the coming year, legal technology platforms will increasingly be bundled together with traditional LPO offerings. This means using software systems, as well as low-cost human labor, to provide cheaper and more efficient legal services.
4. Adoption of LPO Techniques – The broad adoption of LPO techniques in 2012 comes as a supreme validation of the LPO approach and will, more than ever, reshape the practice of law.
5. Law Firm Insurers Target LPO – As outsourcing becomes more common, the unique nature of LPO services creates new risks for legal professionals that will be addressed by law firm insurers in the coming year.”
And to download the complete 2011 trending report, please click here.
This trend is not affecting firms operating in Asia quite as much, but it could become a problem. Even in markets like China (where firms have a large pool of Western trained lawyers who will work for lower rates than industry average) clients are beginning to gain a better understanding of what high quality legal work will cost, even in a more open global legal economy.
To see what’s on offer for talented associates in Asia, please visit Law Alliance (and don’t forget to follow us).
We’ve spent most of the last two years bemoaning the state of the legal job market in the U.S. and U.K. and contrasting that with the growing legal market in Asia. But as the new year begins, some commentators see a possible uptick (or at least a holding pattern) on the job front for Big Law attorneys in the U.S One such “optimist” is David Lat, who posted at Above the Law following his interview on Bloomberg (providing us with our first video!) :
“Trying to predict the direction of the legal economy is like trying to predict the weather: so many factors go into it, and it’s so easy to be wrong. Exhibit A: the predictions and rumors, from summer 2007, that starting salaries for Biglaw associates in New York would soon rise to $190,000 (hence the rallying cry of “NY to 190″).
But still, the possibility of being wrong — as I was about the 2011 Cravath bonuses, as conclusively demonstrated by Steven Harper — hasn’t stopped me before. So here are some predictions I’ll make about Biglaw hiring and compensation for 2012:
- Yes, Virginia, there will be spring bonuses. They’ll probably be about the same as last year (either Cravath scale or S&C scale).
- Associate base salaries will not go up this year (notwithstanding the wishful thinking of some).
- When the Am Law 100 profits per partner numbers come out in the spring, they will show some (probably modest) growth in 2011 over 2010.
- Year-end bonuses in 2012 will be the same as, or maybe a little higher than, the 2011 numbers.
- Hiring might pick up a bit, both for laterals and entry-level positions.
Some caveats. First, these predictions reflect my assumption that nothing catastrophic happens (e.g., no European meltdown triggering a crisis on this side of the Atlantic). Second, these predictions will probably turn out to be wrong, in whole or in part.”
Not exactly in depth scientific analysis, but hey, most lawyers will take any good news they get. Check out David’s interview with Lee Pacchia of Bloomberg Law:
Law Alliance does occasionally get job requests in the U.S., but the vast majority of our jobs opening up (even for U.S. trained attorneys) are in Hong Kong, Singapore, Bejing and a few other Asian cities. Come have a look.
We’re not sure this breaks the mould in legal practice as stated below, but some commentators have been taking more notice of local law firms in Asia seeking to improve service to international clients by promoting their local expertise. A recent article profiles Singapore-based Law Asia International Lawyers, which is seeking to boost its profile as a leader in legal services in the Lion City and beyond:
“SINGAPORE, Jan 16 (Bernama) — Singapore multinational companies (MNCs) and foreign corporate clients have already started benefitting from the bespoke, specialised services offered by the nation’s first international/English Law legal practice, c
Law Asia has broken the mould in being a home-grown international law firm practising international law and headquartered in Singapore.
Established by leading M&A lawyer, Paul Supramaniam, Law Asia offers a fresh concept.
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During its inaugural IAC meeting here on Saturday, Paul said: ‘Our differentiators, the IAC, our broad regional presence, and in-depth local knowledge together with our international sophistication and promise to offer individually-tailored advice, highlights us as a firm that thinks outside the box for not just legal solutions to legal problems, but also as a provider of holistic commercial solutions for clients.’
Confident that Law Asia is poised to be not just a first mover, but in due course a major player on regional markets, Paul said this is the decade of Asia and the time is ripe for Asian MNCs to reap the benefits of highly customised legal support.”
Probably not revolutionary, but it does highlight the growing need for law firms to offer international service blended with strong local expertise. If you’re a local or expat lawyer in Singapore (or wanting to work there) come have a look at what’s on offer at Law Alliance legal recruitment.
I am often surprised at how…surprised…some of my friends and associates have been when running into unexpected visa problems when living abroad or considering it. The number one issue seems to be when someone in a relationship is offered a job in, let’s say, Japan, and the couple wants to move. Well, lots of pros and cons are weighed and there is a general sense of excitement, and if you’re like us during our first move to Hong Kong, you’ll fail to realize that the trailing partner may not be able to work, because they won’t be able to simply get a visa because you aren’t married. You could always bite the bullet and get married, but like one of my friends who works in-house at a major U.S. company’s Tokyo office, you may not be quite ready to make that leap. Of course, a trailing partner may be able to find work with a company that is willing to sponsor a work visa, but this can be tough. And even someone with the resources of a corporate HR department behind them may find themselves in a tough spot if they have not considered every possible option before landing in their new country (full disclosure: I did not take my own advice upon moving to Hong Kong and it was challenging to say the least). If you’re a trailing partner and want to go along for the ride, the most key thing you need to be aware of the length of tourist visas in your destination country. In Japan (as in Hong Kong) a visitor may stay for up to 90 days before having to leave. The relevant rules and links:
“Temporary Visitors
If you are an American entering Japan as a temporary visitor (tourist), you don’t need a visa for a stay of up to 90 days. However, you must show a valid passport and a return ticket dated within 90 days. Authorized activities for temporary visitors to Japan include sightseeing, vacationing, playing sports, visiting family, going on site inspection tours, participating in lectures, and meeting business contacts.
What if you decide you want to stay longer? You will need to leave Japan, apply for a longer-term visa (such as a student visa, work visa, or cultural visa) at a Japanese consulate outside Japan, and then reenter the country.
Visa Applications
If you are not a temporary visitor, but instead plan to stay for longer than 90 days and/or intend to work in Japan, you will need an appropriate visa to remain in the country. Before arriving in Japan, you must apply for a visa at a Japanese embassy or consulate in the United States. The Embassy of Japan is located in Washington, D.C., and its website (www.us.emb-japan.go.jp) gives detailed instructions on application procedures. Visit the same site for locations and contact information for all consulate-generals of Japan in the U.S.”
Now, keep in mind, this does not mean you have to go home. It just means you have to leave Japan when your 90 days is up. Of course, many expats have been able to have extended stays simply by taking trips of even as little as a few hours out of the country before returning, with a new 90 visa clock! (hint: Don’t wait until day 89 to make your “trip”. The relevant authorities tend to notice that kind of thing) Of course, we don’t recommend this option if it’s at all avoidable, but if you’re thinking about taking a law firm job in Japan, you should do your own homework and bookmark THIS PAGE, which is an essential resource for expats in Tokyo.
And visit Law Alliance to get help and guidance as you make your next career move in Asia.
Friday Featured Jobs: Hong Kong
Every Friday we post our latest job openings in Singapore, Hong Kong, Tokyo and around the world. Asia continues to have a high demand for qualified candidates and there is also opportunity in the U.K, U.S. and other Western markets. This week, we have a number of new positions for which we are seeking high caliber legal professionals interested in working in the Hong Kong:
1. Energy Lawyer – Top US Salary – 1PQE+ – Hong Kong
Powerful US firm seeks an energy lawyer for its esteemed HK practice. Candidates should have good energy related experience in either M&A or projects (preferably both) and will be genuinely interested in this busy practice area.
2. Project Finance – Stimulating, Varied Work – 4 PQE+ – BJ or HK
This esteemed global law firm seeks a talented and experienced project finance lawyer to join its hugely exciting Asian practice. Prestigious and highly sought after clients ensure some of the most interesting and diverse work in North Asia.
3. Corporate Finance – Partnership Opportunity – 7PQE+ – Hong Kong
This prestigious US law firm seeks a corporate finance lawyer with IPO experience and commercial nous to join its HK facing team. This is a pivotal role and the successful candidate should expect to be put up for partnership with in two years.
To apply for these and other positions, please visit our job search page at Law Alliance.