Recently, Tokyo reported Japan’s economy to be valued at $1.28 trillion in the second quarter. Japan’s economy grew only 0.4%- substantially less than expected. China’s economy, on the other hand is reported to be worth $1.33 trillion, replacing Japan as the second largest economy in the world. Although China was forecasted to be an economic superpower in the near future, Monday’s figures are the proverbial “proof in the pudding”. Japan has been regarded by the World Bank as the second biggest economy for more than thirty years. Based on Japan’s economic growth in the 1980’s, many economists predicted that Japan would surpass the United States and become the largest economy in the world. But, based on the last decade of rather stagnant economic growth, Japan has assumed the role of third largest economy in the world this quarter.

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Mid-Level Corporate Associate - Hong Kong

The Hong Kong office of this elite firm is seeking a mid-level associate with at least two years of practical post-qualification experience handling public offerings and general corporate matters. Ideal candidates possess Hong Kong qualifications and fluent Mandarin language skills. Candidates with U.S. JDs, or especially strong P.R.C.-qualified attorneys, will also be considered if they have a strong understanding of the Hong Kong Market.

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Starting in July 2012, as part of an effort to overhaul its immigration system, Japan will abolish the Alien Registration Act. In its place, the amended Immigration Act will manage the corresponding issues and information of the Alien Registration System for foreigners working in Japan. Though the new law has been passed by the Diet and is scheduled for immediate implementation to be administered by the Ministry of Justice, many applications of its details remain undetermined.

However, there are clear innovations in Japan’s new work-visa system. For example, a new “Residence Card,” which displays fewer details than the current alien registration card, but requires exhibiting details like the name and address of one’s employer, will be introduced.

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Although thousands of attorneys will work with a recruiter this year, most will spend less time evaluating recruiters than they do researching airfares on the Internet.  A recruiter should play a much larger role in the job-search process than simply relaying information about opportunities, especially when it comes to Asia based assignments.  Unlike the practice of law, the legal-recruiting profession is not regulated and does not require any type of license. Yet using a recruiter involves temporarily entrusting the course of your career to another person. As many recruiters turn their attention to the Asia legal markets with the domestic economic downturn, we thought it timely to suggest the following questions when interviewing a potential recruiter to determine their experience and expertise in the Asia legal markets.  There are many excellent legal recruiters out there, but not all recruiters are created equal and, most importantly, only a handful of recruiters have yet to gain the experience and the knowledge that the Asia legal recruiting field demands.

How long has the recruiter been working in the country of your choice? Cypress was launched in 2001, long before the Asian markets stepped into the world’s economic spotlight and became the focus of the world’s attention. As the first and only US-based legal recruiting firm to specialize exclusively on law firm and in-house placements in the China, India, Japan, Singapore and South Korea legal markets, Cypress has built unparalleled relationships with the Hiring and Managing Partners of top-tier US and UK law firms as well as domestic and international corporations. With our narrow focus and profound understanding of the market, Cypress is uniquely positioned to provide accurate and up-to-date information regarding job opportunities as well as logistical, cultural and practical advice organic to the region.

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China Practice Partner - Los Angeles

This top US firm is looking for a China-related partner with corporate, dispute resolution and/or IP experience for it Los Angeles office. This firm has a strong Shanghai and LA based China practice. With a focus on both China and Japan, the firm is looking for a partner to act as a go-between the US and China practices. Top preference goes to bi-cultural partners and the firm is well-reputed as one of the top law firms for female partners. They focus on M&A, inbound and outbound investment, capital markets, arbitration and IP (preferably hard IP, but open to soft). The firm has no debt and offers a strong platform to build on, with a low cost base and a strong desire to diversify their existing platform. This is a great alternative to the Wall Street law firm experience.  Read More…

Senior International Capital Markets Attorney - Hong Kong/Beijing

The Hong Kong office of this leading law firm is seeking a senior associate for their International Capital Markets Group. Candidates must have at least five years of post-qualification experience, as well as experience in U.S. S.E.C.-registered equity and debt offerings, and Rule 144A offerings, including Hong Kong listings works. They must also have substantial experience advising and assisting on Exchange Act reports and general U.S. securities regulations. Fluency in Mandarin is required, along with strong communication and leadership skills.

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Following the last two years of salary freezes and lowered bonus structures, ex-pat packages in China and Japan have become a hot topic among U.S. and U.K. attorneys looking to relocate from the U.S. and U.K. to Asia. The top firms have weathered the economic crisis just fine according to data gathered by ALB Legal News, and most firms continue to offer competitive packages in Asia in order to attract and retain top legal talent. This is especially true of firms that, as newcomers to a given market, are anxious to increase their ranks.

Firms remain committed to the region, investing resources into their foreign offices, hiring or promoting partners, and offering competitive remuneration packages to their strongest attorneys, especially bilingual ones. While ex-pat packages have for the most part remained stable at top firms, especially in more mature legal markets like Tokyo and Hong Kong, we have seen more variance than ever over the past year. Increasingly there is a willingness to negotiate and make offers on a case-by-case basis.

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Corporate Associates – China: Beijing

This top international firm is seeking corporate associates for its Beijing office. Candidates must be dedicated workers with an ability to provide clients with excellent service. Must have outstanding academic credentials, work experience at a reputable firm, and excellent legal writing and analytical skills. Should have U.S., P.R.C., Hong Kong and/or U.K. qualifications. Ideal candidates will be P.R.C. nationals who are leaving U.S. after gaining experience with the U.S. market.

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Mid-Level Real Estate Associate – Russia: Moscow

This global firm seeks an experienced mid-level real estate associate for their Moscow office. Candidates should have at least four to six years of post-graduate practical experience in real estate matters at a reputable firm.

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Senior US/UK-Qualified Japanese-Speaking Leveraged Finance – Japan: Tokyo

The Tokyo office is interested in a native-level Japanese speaker with a US/UK qualification and four to six years of post-qualification experience in private equity and leveraged finance. Candidates must have experience with leveraged M&A transactions and the ability to independently draft, review, and comment on Japanese documentation. The firm will also consider a senior associate who is fully fluent and experienced enough to jump right into practicing.

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At the Japan 2010 ALB Law Awards, held at the Tokyo Ritz Carlton, Mori Hamada & Matsumoto was named “Japanese Deal Firm of the Year” and “Japanese Dealmaker of the Year” in front of a sellout crowd of over 200 of Japan’s most prominent in-house counsel, investment bankers and business leaders. Their stellar deal work was evidenced by their participation in many of the “Deals of the Year,” including the top deal, “Mitsubishi UFJ Global Offering.”

Nagashima Ohno & Tsunematsu was also a top prizewinner, present in nearly all of the winning deals. Anderson Mori & Tomotsune and
 Tsuyoshi Nagahama were awarded the “Lifetime Achievement” award. Morgan Stanley won three awards in the “In-House Categories.”

Global investment bank Nomura is determined to see the advantages in the post-economic crisis world. Nomura has achieved market gains in Asia ex-Japan and Europe and is now seeking to expand into the US franchise to tap into that market’s massive fee pool. Jesse Bhattal, president and CEO of Nomura’s wholesale department admits that the scale of their investments will “engender several quarters of challenged profitability,” but points to the crucial opportunity to gain a foothold in a market where even a 50bp increase in market share equates to over half a billion dollars in new revenues.

Nomura is just one example of a globally competitive franchises seeing past the disadvantages to the advantages in the post-economic crisis world. Globalization’s pace creates an opportunity for franchises with global platforms to create practical and profitable businesses. Global markets are now at a crossroads when it comes to the importance of new emerging markets versus traditional economic powers, such as the US, Japan, and Europe. The amount of wealth flowing into emerging markets will transform and aid the global economy, with $2.5 trillion of reserves in China alone.

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Junior Partner Opportunities - China: Beijing, Hong Kong

This global law firm is looking for M&A, inbound or outbound investment, dispute resolution and/or IP partners to join to their growing China practice in Beijing and Hong Kong.  The firm will also consider elevating a counsel or senior associate to partner as well as a more senior partner with a book of business of at least 1.5m to lead the China practice.  The firm is committed to the growth of their China practice and will match or exceed current compensation levels. Ideal candidates will have a book of business of 1.5 million, though the firm will consider other partners, counsel or senior associates.  Must have top academics and major law firm experience.  Candidates must be U.S. Qualified.  Chinese language skills are a plus, but are not required.

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Oil & Gas/Corporate Mining Senior Associates - Indonesia: Jakarta

he Jakarta office is seeking experienced oil & gas or corporate senior associates with Indonesian qualifications, experience and language skills. Candidates should have four to six years experience in upstream oil and gas or corporate mining in Indonesia. Must have Indonesian qualifications, experience and language skills. Read more..

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