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Specialist intermediary broker Icap is searching for a senior lawyer in Hong Kong to launch the company's first legal capability outside the UK and US.
General counsel for Icap outside the US Mark Schreiber revealed that the company, which provides a wholesale brokering service between banks, is looking for a senior lawyer to assist the company's Asia Pacific & Middle East (APME) offices.
The company has instructed legal recruitment agency Taylor Root regarding the search for the APME lawyer, who is expected to represent the beginning of a full-capability legal team in Hong Kong.
The role would report to the new APME lawyer and would oversee all of the company's legal requirements and relationships with external advisers within Australia, Hong Kong, India, Japan and New Zealand.
Schreiber said: "We want to develop a senior legal presence in Hong Kong in order to be more proactive and address a greater range of issues locally. This should take some of the pressure off the London office."
The recruitment of the lawyer may signal the beginning of a spate of hires within Icap's legal team. The company currently has 10 lawyers globally, six of which are in the UK.
Schreiber said the company is also considering hiring a structured finance lawyer in London before the end of the year.