The initial focus of the office will see the development of a dispute resolution practice by arbitration partner Nicolas Wiegand (pictured) who relocates from Munich.
CMS plans to extend its offering from the new office in 2017, aiming to establish a banking and finance practice through UK-based member firm CMS Cameron McKenna.
Hong Kong is the third office in China for CMS, which already has around 30 lawyers each in both Shanghai and Beijing. CMS Cameron McKenna also previously had a Hong Kong base that was eventually wound down in 2003.
Wiegand has experience of arbitrations across Asia-Pacific, on matters relating to Hong Kong, China, Singapore, South Korea, Australia, Thailand, Vietnam and Japan. He also sits on international arbitration panels in Hong Kong, Shenzhen and Dubai.
‘You’ve seen a dramatic rise in international arbitration in Hong Kong, as well as a sharp increase in transaction volume and deals coming to Europe, especially Germany,’ said Wiegand. ‘There’s a lot of work going on, which will lead to additional disputes in the mid term.’
CMS will also look to capitalise on competitive pricing for international arbitration in the region. Wiegand stressed the lower overheads and costs at CMS would provide greater value for clients.
‘Chinese clients are often looking for the best deal. We could have an advantage in delivering those competitive rates,’ he said. ‘People will be very aware of the CMS brand.’
He added the arbitration group in Germany would be able to provide the initial manpower, but the office was not intended to be simply a CMS Hasche Sigle office.
CMS is driving a spell of international expansion into developing markets, as well as keeping a watch on the US. Most recently, it was the first international law firm to venture into Iran, opening an office in Tehran in February.
And, following his election as CMS Cameron McKenna UK managing partner, Stephen Millar said the firm was targeting expansion in Asia with the aim that the region would contribute 30% of global revenues. CMS executive partner Duncan Weston is also understood to be planning future associations for the firm in South America.
matthew.field@legalease.co.uk