Ashurst’s long-standing Chinese alliance firm Guantao has expanded its Shanghai base by merging with local firm Zhongmao, and is in the process of opening an office in the US.
The merger between Guantao and Shanghai-based Zhongmao comes after a five-year association in Shanghai. The merged firm will continue to be known as Guantao in English.
Guantao’s own Shanghai office had seven partners and 15 lawyers prior to the merger, while Zhongmao had three partners and around 40 lawyers.
At the same time of the merger, two teams from two other Shanghai firms, Zhonghua and Ojia, are also joining the merged firm.
The Shanghai expansion will boost Guantao’s total lawyer headcount to above 500, including 100 partners. Pre-merger, the firm was ranked as the 46th largest independent firm by lawyer numbers in The Lawyer’s Asia Pacific 150 report in 2015.
Zhongmao is best-known for its expertise and clients in the real estate and infrastructure sectors. Its founding and managing partner Sheng Leiming will become co-chair of the enlarged Guantao alongside Guantao’s managing partner Cui Liguo.
It is the latest consolidation effort by Guantao. In February 2016, the firm fully integrated its Hong Kong association firm Peter C. Wong, Chow & Chow and localised as a Hong Kong firm under the new name of Guantao & Chow.
Guantao currently has 14 offices, including two international locations – Hong Kong and Sydney. The firm is also understood to be in the process of adding a new international representative office in the US as part of its international expansion.
Guantao’s UK ally Ashusrt has also been contemplating a US presence and has long been in the market for a US merger. More recently, rumours are beginning to circulate that the firm has restarted its search for a partner.