International law firm Hogan Lovells, under the leadership of incoming CEO Miguel Zaldivar and deputy CEO Michael Davison, announced significant internal changes including fewer practice groups and regions, as well as a smaller international management committee (IMC) commencing 1 July.
The IMC is responsible for setting and implementing the firm’s strategic direction and business operations, and comprises the heads of Hogan Lovells’ practice groups, administrative regions, clients and markets.
The firm’s five practice groups will be condensed into three. Its corporate and finance practice groups will be combined to create a new corporate and finance practice made up of about 400 partners. Its global regulatory, and intellectual property, media and technology (IPMT) practice groups will now be under one umbrella, the global regulatory and IPMT group, made up of 230 partners.
“Bringing corporate and finance together will eliminate a significant amount of overlap, particularly in the areas of capital markets, joint ventures, mergers and acquisitions, and commercial work, while combining the global regulatory and IPMT groups will take advantages of synergies in areas like privacy and cybersecurity, pharmaceutical and technology patent litigation, and antitrust investigations,” explained Zaldivar.
Hogan Lovells’ regions will also be reduced from five to three. The current Americas and DC regions will be combined, and a single Europe, Middle East and Africa (EMEA) region will be created. The firm’s Asia-Pacific Middle East region will now focus on the emergent markets of Southeast Asia and Australia, Greater China and Japan.
Zaldivar, currently based in Hong Kong where he was the firm’s regional chief executive for the Asia-Pacific Middle East, told Asia Business Law Journal: “Our plan for Asia-Pacific continues very much as it was under my regional leadership. We see Singapore as the gateway into the Southeast Asia market, and our presence across Greater China is designed to support investors coming into the region, delivering local advice where we can, working with our joint venture in the Shanghai free trade zone, and supporting outbound legal needs of Chinese businesses in other large and growing economies around the world.
“Our strategy in markets such as Japan and Australia is on supporting inbound investments and ensuring that we connect clients there with the rest of the firm’s capabilities around the world, and then in Vietnam and Indonesia we have the potential to significantly grow the work we handle flowing in and out of these two fast growing and developing countries.”
Zaldivar said he had complete faith in his regional successor’s leadership in ensuring little or no disruption and continuing the strong growth in Asia. “Our new regional managing partner for Asia-Pacific, Lloyd Parker, is taking over from me and he is from the region, having started his career in Australia, and now based in Japan,” he said.
“He has successfully led our very well regarded intellectual property practice across Asia-Pacific, including in China, and knows the power of what we can offer as a firm when we bring all of our resources around the world in to support the needs of our clients, especially when combining our commercial knowledge and industry sector experience with our world-class regulatory experience. That work at the intersection between government and business is a very distinctive strength for us.”