Baker & McKenzie Hires Korea Partner for Hong Kong Office

By Jessica Seah All Articles 

The Asian Lawyer

January 16, 2013

Baker & McKenzie has hired a new Korea practice partner for its Hong Kong office.

Former Kim & Chang foreign legal consultant Seong Soo Kim specializes in cross-border project financings and international securities deals involving Korean companies.

Kim had worked at Kim & Chang, Korea's largest law firm, since 2002. Before that, he was an associate in Hong Kong with Shearman & Sterling.

Though Baker & McKenzie is opening a Seoul office, pending regulatory approval, it is unclear if Kim will work in that office. A firm spokeswoman says Baker & McKenzie has so far only decided to send three other Korean-speaking lawyers to Seoul when the office begins operations.

Baker & McKenzie announced it was applying to open a Korea office in November. It will be the firm's 73rd worldwide.

Baker & McKenzie Joins Korea Rush

By Tom Brennan All Articles 

The Asian Lawyer

November 21, 2012

Baker & McKenzie has added its name to the list of firms looking to enter Korea.

The Chicago-based firm announced Tuesday it had applied to the Korean Ministry of Justice for approval to open an office in Seoul. Baker & McKenzie joins almost 20 other international firms that have also applied or stated their intention to do so.

Several, including Cleary Gottlieb Steen & Hamilton, Simpson Thacher & Bartlett, Ropes & Gray, and Clifford Chance, have already been approved and have officially opened their offices in Seoul.

Baker & McKenzie said Nam Hung Paik will lead the office once the application is granted. Paik's current position at the firm is unclear. Though once a Chicago partner at the firm, Paik was described in the firm's announcement only as a "veteran lawyer" and has no profile on the Baker & McKenzie website.

Neither a firm spokesperson nor Hong Kong-based Korea practice head Won Lee responded to requests for comment.

In a statement, the firm said its Seoul office would be focusing primarily on cross-border matters for Korean companies, including mergers and acquisitions, antitrust and intellectual property litigation.

The office will be Baker & McKenzie's 73rd worldwide, and its 15th in the Asia-Pacific region.

King & Wood Mallesons Recruits Private Equity Chief From Baker & McKenzie

Baker & McKenzie's former Sydney-based private equity head is joining King & Wood Mallesons.

Mark McNamara, who was also the Australia corporate head for Baker & McKenzie, will lead the private equity practice for King & Wood Mallesons as well.

He is one of the best-known lawyers advising private equity shops on deals in Australia. McNamara's clients have included Kohlberg Kravis Roberts & Co. and CCMP Capital.

Last year, he advised U.K. private equity firm TDR Capital on its $689 million acquisition of Queensland-based Ausco Modular, a maker of portable buildings. McNamara last year also advised KKR on the $4 billion sale of its stake in Australian television network Seven Media Group to West Australian Newspapers Holdings Ltd.

McNamara has led Baker & McKenzie's global private equity group for three years. He joined Baker & McKenzie in 2000 after a stint in the London private equity group of Clifford Chance. He began his career as an associate at Clayton Utz.

Baker & McKenzie Shakes Up London Associate Pay With New Merit-Based Model

Baker & McKenzie has overhauled its pay structure for London associates in a move away from the traditional post qualification experience (PQE) model to a three-tier, merit-based system.

The three new levels are junior associate, mid-level associate and senior associate, with those adjudged to have met performance expectations rising to mid-level at two years' PQE and from mid-level to senior after five years.

Each of these roles will cover a broad pay bracket with pay levels determined by performance. The firm hopes the new system will encourage its associates to develop at a faster rate.

Bakers is also appointing partner "coaches" who will take responsibility to help associates develop within their department.

The new system is the brainchild of Bakers HR director Martin Blackburn, who developed the idea as a result of feedback received from the firm's partners and associates.

Blackburn said: "Associates were telling us that they wanted more feedback and more openness about their potential and career options. They wanted a longer-term mentor relationship with a nominated partner and we simply combined these ideas into the 'coach' who is responsible for no more than six associates over a significant part of their career."

The new structure has already been implemented, although no changes will be made to associate pay until next year's annual pay review.

The firm is also planning to make changes to associate charge-out rates in order to reflect the new structure.