Compliance push drives demand for Hong Kong lawyers

Increasingly rigorous US and British compliance requirements are driving strong growth in the number of corporate lawyers in Hong Kong, attracted by the generous pay packages on offer amid a financial market boom.

"Following an upturn in in-house recruitment in 2013, which saw buoyant activity across [multinationals] and Hong Kong companies, recruitment in 2014 has shown no signs of slowing," said Lewis Sanders, a Hong Kong legal recruitment firm. "The demand for lawyers remained strong throughout all of 2013 and this buoyant activity has continued into 2014."

Lewis Sanders managing director Lindsey Sanders said Hong Kong was being affected by American and British regulatory reforms and financial institutions were boosting their compliance and legal teams.

Andrew Dale, a partner at international law firm Orrick, said the number of lawyers drawn to investigations and compliance work had increased in the past couple of years.

"An increasing number of US and [British] firms and lawyers see investigations and compliance work in Asia as an area of growth," he said. "The work is more often than not China-focused."

Oliver Allcock, the legal and compliance recruitment manager at headhunter Robert Walters, said lots of boutique and smaller international law firms were opening in Hong Kong, driven by a boom in corporate and litigation work in mainland China and Asia. He estimated 90 to 95 per cent of corporate law roles in Hong Kong required Putonghua speakers.

"Out of any discipline, compliance is growing the quickest," Allcock said.