Linklaters Strengthens Hong Kong Capital Markets Team With Addition Of Quartet Of Lawyers

Linklaters Strengthens Hong Kong Capital Markets Team With Addition Of Quartet Of Lawyers

Linklaters has strengthened its capital markets team in Hong Kong by hiring four prominent lawyers from Clifford Chance and Sidley Austin, targeting the burgeoning new economy sector in the region.

Christine Xu has joined from Clifford Chance as the head of Greater China ECM, while Oliver Zhong, formerly a partner at Sidley Austin, has taken on the role of special senior adviser and new economy team leader for Greater China. Additionally, ECM counsel Queenie Tong and Samson Chan have also transitioned from Clifford Chance to Linklaters.

This recruitment drive follows Linklaters’ decision to cut 30 lawyers across its Hong Kong, Shanghai, and Beijing offices last year due to a “prolonged downturn” in the China market. Sophie Mathur, Linklaters’ Asia head of corporate, emphasized the firm's commitment to China, stating, “Their experience will enhance our support for corporate, financial institution, and private equity clients in corporate and capital markets transactions, alongside complex M&A, takeovers, and restructurings involving listed companies.”

Christine Xu brings extensive expertise from her five-year tenure as a Partner at Clifford Chance, specializing in Hong Kong IPOs, pre-IPO investment, post-IPO fundraising, M&A transactions, and general compliance work. Her client base includes issuers and underwriters in new economy sectors such as technology, media, consumer, healthcare, and life sciences. Notably, Xu co-led a team that advised SciClone Pharmaceuticals on its $1.1 billion take-private by PE firm GL Capital and its $280 million IPO on the Hong Kong Stock Exchange in 2021.

Oliver Zhong's practice encompasses corporate finance and capital markets transactions, including Hong Kong SAR and US-registered initial public offerings and debt offerings under Rule 144A and Regulation S. His focus areas include issuers in healthcare, consumer, technology, and real estate sectors. Zhong spent 14 years at Sidley Austin, making partner in 2020.

William Liu, Linklaters’ Asia managing partner, highlighted the strategic importance of Xu and Zhong's expertise, stating, “Their induction enriches our equity capital markets prowess and expands our capacity to support clients in complex transactions involving listed companies and potential issuers in Asia.”

Last August, Linklaters further bolstered its China practice by hiring M&A specialist and former Slaughter and May Partner Roger Cheng from Hong Kong’s financial regulator, the SFC. Shortly after, Clifford Chance recruited leading M&A Partner Alex Bidlake from Linklaters in Hong Kong.

Despite last year's job cuts, Linklaters maintains one of the largest legal teams of any international firm in China, with a headcount exceeding 200 according to its website. The majority of its China-based lawyers are stationed in Hong Kong, which continues to be a major hub for international firms despite Beijing’s imposition of a controversial national security law in 2020 aimed at quelling the pro-democracy movement in the Special Administrative Region.