(July 12, 2011, Shanghai, PRC) - Reed Smith LLP, a leading global law firm, has strengthened its leadership position in Asia with the announcement that it is opening an office in Shanghai, the most populous city in China, effective immediately. With the firm's current offices in Hong Kong and Beijing, this gives Reed Smith its third office in Asia.
Jay Yan, a New York-licensed lawyer who has been working in Shanghai for 15 years, has joined the firm as the new Shanghai office Managing Partner. He was previously head of the Dorsey & Whitney LLP Shanghai office.
"Establishing a Shanghai office is the latest step toward expanding Reed Smith's position as a leading law firm in Asia," said Gregory B. Jordan, the firm's Global Managing Partner. "We are already one of the strongest global firms in the region, with more than 120 lawyers in Hong Kong and Beijing. A presence in Shanghai solidifies our role as a key player in this center of global business and commerce, and bringing in Jay Yan to head this office gives us seasoned experienced leadership in this important market."
A graduate of Columbia University School of Law and Beijing University School of Law, Mr. Yan has extensive experience in international corporate law, including in cross-border investment in China and the United States.
"Reed Smith has an exceptionally strong and agile platform, with legal expertise and business connections that are key for its clients doing business in Shanghai," Mr. Yan said. "This city is a vibrant, active market that is second to none in terms of its future potential. I look forward to leading Reed Smith in the implementation of its plan to grow and develop its Shanghai platform and serve its clients in this market."
A native Mandarin speaker who was born and raised in China and went to New York City in 1986, Mr. Yan has acquired a deep and thorough understanding of the business environment and cultures of both countries.
Mr. Yan advises on a wide range of legal matters for U.S., European and Chinese companies, including representing foreign enterprises in cross-border investment, M&A transactions, debt restructuring, corporate financing and share transfer transactions, regulatory and compliance matters, employment, import & export control, tax, and foreign exchange control in China. He negotiates and settles major disputes for Chinese and U.S. publicly listed companies, and represents clients in international litigation and arbitration matters both in China and in the United States. He also represents foreign enterprises in various intellectual property matters, including registration of trademarks and patents in China and handling disputes related to intellectual property rights. In the real estate arena, Mr. Yan represents many foreign investors in purchasing and leasing land-use rights, office space and manufacturing facilities, and in designing work and construction in China.
Mr. Yan will immediately be joined in the new office by counsel and Shanghai native Zack Dong, who will return to that market from Reed Smith's Beijing office to help build the Reed Smith presence there.
Mr. Dong has many years of experience advising retail, wholesale, manufacturing and service-based clients on making foreign direct investments in China. In addition to counseling clients on market entry, he helps those already in China restructure their China operations and investments through acquisitions, divestitures and recapitalizations, including all associated employment and real estate matters.
The firm is currently recruiting additional lawyers to round out and strengthen its presence in Shanghai with the intention of rapidly expanding that office.
According to Michael Pollack, Reed Smith's Global Head of Strategy, "Reed Smith's well-deserved place among Law360's ‘Global 20' is confirmed by this expansion into Shanghai. We view a growing presence in Asia as critical to meeting the needs of our many current global clients, as well as the needs of clients looking to initiate new business in China in the years ahead."
Reed Smith currently delivers cross-border support to some of the world's largest multinationals with more than 1,600 attorneys in 23 cities on three continents. Among its clients are 13 of the world's 15 largest commercial and savings banks, eight of the world's 15 largest oil and gas companies, and the world's three largest pharmaceutical distribution and wholesale companies.
According to Mr. Yan, "Many U.S. companies start their China operations in Shanghai because of the favorable legal climate and incentives that the government offers to locate manufacturing operations in the outskirts of the city. Our new office, in this key market, will provide companies with on-the-ground support and the ability to access the firm's broad capabilities across our international network."
About Reed Smith
Reed Smith is a global relationship law firm with more than 1,600 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises. Its lawyers provide litigation and other dispute resolution services in multi-jurisdictional and other high-stakes matters; deliver regulatory counsel; and execute the full range of strategic domestic and cross-border transactions. Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, energy and natural resources, advertising, technology and media, shipping, real estate, manufacturing, and education. For more information, visit reedsmith.com.
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