Arendt expands its global footprint
Arendt & Medernach continues expansion with the opening of a new office in Hong Kong
Luxembourg, 5 November 2009 – This week Arendt & Medernach, the largest law firm in Luxembourg, following similar expansions in Brussels, New York, London and Dubai is pleased to announce the opening of a new office in Hong Kong.
The firm works for a large number of clients in the financial sector, including public and private investment funds, and Asia-based banks. The opening of this office will enable the firm to better serve its clients and law firms with which it works closely in Asia, as well as follow its Luxembourg clients who have operations in the region.
As a representative office, the Hong Kong office will not practice under Hong Kong law, for which the firm will continue to collaborate closely with those local law firms with which Arendt & Medernach already has an established relationship. Arendt & Medernach is confident that by being locally present it will be able to offer advice locally to investors interested in the Luxembourg financial marketplace and the other specific areas of expertise of the firm. The services offered by the new Hong Kong office will focus primarily on public and private funds and direct investments.
“Hong Kong, due to its unique position as one of the global leading financial centres, is a centre that cannot be ignored in the global strategy of financial institutions and large and mid-sized companies of the industrial sector. Our clients in the region seek information on the Luxembourg financial centre, which helps them assist their contacts in the greater China region,” comments Guy Harles, one of Arendt & Medernach’s founding partners, and head of international development and strategy.
Within the EU, Luxembourg is second only to London in terms of concentration of financial and banking activity. Luxembourg's flexible banking and investment fund legislation and extensive network of double tax treaties have enabled it to emerge as a leading centre for international lending, investment funds and private banking.
The firm’s Hong Kong office will be led locally by Stéphane Karolczuk, who was previously with the Luxembourg and New York offices, as well as Guy Harles and Claude Niedner, partner in the firm’s regulated investment funds practice, who will visit the region on a regular basis.
Mr Niedner said, “As outward investment funds from Asia are likely to increase fairly dramatically over the short term, and given the changes and reforms that are being implemented in multiple jurisdictions, the need for up-to-date advice and expertise is likely to grow. We see this strategic move of ours as timely.”
With almost 400 professionals, including 270 lawyers, Arendt & Medernach is one of the top-tier law firms in Luxembourg and provides legal advice to domestic as well as foreign clients in the field of business and financial law from offices in Luxembourg, Brussels, Dubai, London and New York. In 2009, Arendt & Medernach received, for the third year running, the renowned “Who’s Who Legal Award” which rewards the best law firm in Luxembourg.
