CMS Cameron McKenna has launched a Hong Kong banking practice, 20 years after arriving in the region.
Following the 1997 Asian “meltdown”, local banks limited lending to mortgages. Now the economy is improving, this is changing. The practice will start as an extension to the firm’s corporate recovery department, taking advantage of the upturn in lending.
Christopher Clarke, Cameron McKenna’s senior partner for Asia, says: “The banks are beginning to go back into corporate lending and we are setting ourselves up to take advantage of what we think is going to come. We want to be well positioned for the next few years, to do mainstream banking.”
In preparation, the firm has hired Suzanne Pearson as a partner from Allen & Overy‘s local office.
The firm is also focusing on projects work, where Pearson has experience, and also construction. Construction partner Mark Badger has been hired from Allen Allen & Hemsley in Sydney.