The raid on Simmons' senior Hong Kong rainmakers gave Fried Frank a large and credible presence even before its first Asian office was officially open. Now, with Shanghai up and running, it has a team of 40-plus lawyers across both offices, though the firm won't say how many lawyers are based full-time in Shanghai.
"We believe in the one practice, two cities approach," says Hickman, who also claims the firm has no specific hiring plans. "We tend not to hire for the sake of meeting a headcount target," he says. "When we come across someone that has the right calibre we will not hesitate to pursue him or her to join our team."
Fried Frank, an archetypal Wall Street firm, draws on strong relationships among the investment banks, notably Goldman Sachs, and advises clients on M&A, private equity, securities, finance, real estate and litigation.