Law firm Stephenson Harwood recruits counsel for Hong Kong Restructuring Group
In response to the growing demand for restructuring services in Asia, UK law firm Stephenson Harwood has announced the hiring of Alvin Cheung as a partner. This strategic move comes at a time of increased economic challenges and market uncertainties, making Cheung's expertise in restructuring, private credit, and distressed investments particularly timely.
Cross-border restructuring is becoming a strategic priority for foreign investors operating in China, as heightened geopolitical tensions, supply chain disruptions, and trade frictions prompt companies to rethink their operational footprints without fully exiting key markets like China. This creates increased demand for legal and advisory expertise in restructuring to manage these complex transitions and risk diversifications.
Moreover, companies are adopting restructuring and M&A as tools to pursue growth and liquidity amid a volatile economic environment. For example, globally, M&A activity reflects both consolidation and liquidity-driven exits, with Asia showing signs of growth in selective private equity deals despite challenges. This environment demands sophisticated restructuring services to facilitate deal execution and corporate reorganization.
Large financial institutions and law firms are responding to these trends by expanding their restructuring and advisory capabilities in Asia-Pacific, aiming to capture growth driven by the region's evolving economic landscape. Alvin Cheung’s hiring by Stephenson Harwood signifies the firm’s commitment to strengthening its restructuring practice to address needs arising from this dynamic market context.
Alvin Cheung, who joins Stephenson Harwood from Clifford Chance, brings a wealth of experience working at Ropes & Gray and Hogan Lovells before joining Clifford Chance. He will advise credit funds, asset managers, banks, creditor groups, and distressed companies, strengthening the firm's non-contentious restructuring capabilities.
Jamie Stranger, head of Stephenson Harwood's Greater China restructuring and insolvency practice, believes that Cheung's specialized non-contentious restructuring expertise strengthens their offering. Evangeline Quek, Greater China office managing partner at Stephenson Harwood, states that Alvin's joining the firm is a pivotal moment in their practice's expansion in Greater China.
Creating full-service offerings across their network is a key aspect of Stephenson Harwood's strategy, and the expansion of their Greater China office is aimed at meeting the needs of their clients. The firm's strategy also includes growing its international presence, and with the addition of Alvin Cheung, Stephenson Harwood now has 26 partners in Hong Kong.
In summary, Alvin Cheung’s recruitment highlights the growing complexity and volume of restructuring mandates in Asia as companies navigate geopolitical risks, supply chain realignments, and capital market pressures. Firms equipped with deep regional expertise and cross-border restructuring capabilities are increasingly critical to clients' adaptive strategies in this challenging environment.
- The increasing complexity and volume of restructuring mandates in Asia necessitate firms with deep regional expertise and cross-border restructuring capabilities, such as Stephenson Harwood, to strengthen their practices to address client needs.
- To pursue growth and manage risk amidst economic volatility and market uncertainties, companies in finance, business, and technology sectors are turning to restructuring and mergers and acquisitions (M&A), creating a demand for sophisticated restructuring services from law firms in Asia.
