Anecdotes and Analysis
In March 2018 a press release touts: London-based Stephenson Harwood has bulked up its China practice with the acquisition of Troutman Sanders’ Beijing office, as the U.S. firm winds down its Asian operations.
In January, Troutman Sanders had announced it would close its offices in Hong Kong, Beijing and Shanghai.
The press release goes on to describe a bright young lawyer who- “leads the 11-fee earner capital markets team (nice specialized wording here, what does this mean one licensed lawyer and 10 paralegals we can “charge out”-as a fee earners) that also includes two of counsel (essentially a couple of guys on contract with whom the firm hopes to attract business).
The press release goes on to name a lawyer who joined Troutman in 2012 from Orrick, Herrington & Sutcliffe to launch a Beijing office for the Atlanta-based law firm, and that his practice focuses on the U.S. law aspects of mid-cap equity capital markets offers on the Hong Kong Stock Exchange. This directly contradicts the Troutman Sanders claim they have been in China since 1997! Let me explain, Troutman-took over for a hapless firm who was acquired by Troutman in 2012- wherein a guy that Stephenson Harwood claims launched the Troutman firm in 2012 and was at Orrick comes to bring some kind of practice to Stephenson Harwood.