Tag Archives: HK

Industry Insider – A matter of trust at Withers

Priding itself on its difference from other companies, Withers Hong Kong is the only law firm in the city that places equal focus on wealth and asset preservation, as it does on wealth planning. It has also made significant additions to its Putonghua-speaking team. Managing partner Marcus Dearle explains that this is essential as many mainland Chinese clients wish only to do business in Mandarin.

What is the ‘Wealth Preservation Group’ and why was it set up? 
Formed in 2011, the work of Withers Hong Kong Wealth Preservation Group has attracted considerable interest due to the wealth planning industry’s recognition that family discord and divorce is a clear and present danger to family wealth.

It is of great interest to high-net-worth individuals, and this part of the world. In some high-net-worth cases, spouses may lose up to one-half of their wealth on divorce. But, there are steps that can be taken against this.

We provide advice on pre- and post-nuptial settlements and dynastic trust planning, to help restrict attacks against assets.

We also “stress test” existing documentation to check that all is in order – for example, examining if a will is properly drawn up and attested, to avoid hugely expensive and acrimonious scenarios.

How do the mainland Chinese regard wealth preservation? 
An increasing proportion of high-net-worth individuals come from mainland China. As with wealthy Hong Kong Chinese clients and expatriates, some have become concerned about the big cases that have recently hit the headlines.

Is Withers trying to expand the idea of wealth preservation into China?
We are trying to push wealth preservation in China, using our intermediary contacts and referrals from private banks.

How important is the mainland China market to Withers?
We have been attracting more mainland clients in recent years, which  is the same as other Hong Kong firms. Hong Kong is often the first jurisdiction that mainlanders look to; Singapore is another.

We will be increasing our footprint in Asia when we open our new Singapore office this year.

How many Putonghua-speaking staff do you have, and do you plan to increase this number?
We are certainly looking to hire more mainland Chinese lawyers in the future. Currently, we have six fluent Putonghua speakers in our team.
One of our recent successful mainland recruitment stories is Lian Fang, a registered foreign lawyer brought up on the mainland, who attended Nanjing University and Columbia University School of Law.

Any international law firm that doesn’t appreciate the importance of mainland China risks losing valuable business now and in the future.

Is there a different way of dealing with mainland clients?
I think Hong Kong Chinese clients, like expatriates, usually have a basic understanding, for example, of the concept of what a trust is.
Mainland clients have often become very successful over a short period of time and won’t have come across the concept of a trust – the idea of putting your money in the hands of other people.

This is very unfamiliar territory to them, so this is all the more reason why we need to have people in the office who are able to win their confidence, and explain the intricacies of the law to them.

A lot of mainland clients only want to deal with Putonghua-speaking lawyers.

What is the hiring outlook for Withers in 2012?
We are currently expanding our litigation and wealth planning arm, and are recruiting for our new Singapore office, with a major focus on personal tax and trust lawyers. There is a big demand for wealth planning from clients in this region.

A mainland China office is definitely a future target as well and our first mainland-bred lawyer, Lian Fang, will hopefully be the first of many.

Originally published in South China Morning Post, February 2012


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A Cut Above – The HarbourView Place Presidential Suite

Taking luxury further once more, the leading Sun Hung Kai Properties have set the new benchmark for hedonism with this exquisite Presidential Suite, located in the stunning development of The HarbourView Place that just opened last year.

Located next to the third tallest building in the world and above one of the most luxurious shopping malls in Hong Kong, The HarbourView Place is worlds apart from your average serviced accommodation – and not just in terms of elevation.

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Fashionable Gastronomy – Armani/Aqua & Armani/Privé

As the fine-looking end product of a fruitful collaboration between luxury gods Armani and the arbiters of restaurant taste, the Aqua Restaurant Group, this restaurant was set to be a hit before construction work even began.

If the Greek legend King Midas was a corporation he would most likely be the Giorgio Armani Group, that ubiquitous oh-so-familiar fashion and luxury goods company that needs no introduction. Pretty much any project that gets the Armani seal of approval is bound to be a success in some way or another these days, and this even counts in areas outside of their domain – with their young yet successful collection of restaurants being a perfect case in point. As a fairly new venture for the company their thriving restaurants all boast the Armani signature lushness, with three gourmet restaurants at the Armani Hotel in Dubai plus a flourishing Armani and NOBU venture. They also recently and fittingly moved into bars, with three Armani/Privé’s located in Milan, Tokyo and Dubai, plus the recently-closed Armani Bar in Hong Kong, which was doing well even up to its close.

Not being ones to stand still, Armani have again taken things a step further and, following in the footsteps of the previously closed Armani Bar, they have just launched a new restaurant concept in the heart of the Hong Kong city centre as well – a massive 14,000 square-foot combined bar and restaurant called Armani/Aqua and Armani/Privé. The new innovative luxury restaurant concept is the result of a partnership between Armani and Aqua Restaurant Group, and their could be no better pairing, with the designer David Yeo behind Aqua being a man with flair and finesse, much like Giorgio Armani. In fact, as one of the main masterminds behind the ultra-stylish Hullett House, Aqua and the Michelin-starred Hutong, much of the phenomenal success of the Aqua Restaurant Group can be attributed to David Yeo alone.

Upon entering Armani/Aqua and Armani/Privé it is clear to see Armani made the right choice for a partner, as David Yeo’s design magic has been successfully conjured up again. Much like the atmospheric interiors of restaurants Aqua and Hutong, subdued romantic moody lighting runs throughout, complementing a dramatic design scheme that catches the eyes from the get-go. A fine polished Italian veneer greets one at the entrance and a plush red carpet leads one into the restaurant. Further in a the dynamic design continues where a long black and orange carpet ushers one into the restaurant, which stands out with arches on either side and mirrors behind – a surreal train station resembling space. Inside in the main dining one is greeted by a lava amber bar, which stands out with its light oriental motifs. Behind this more blood reds crop up in the dining area where they are complemented by cozy booths and an abundance of natural stone, wood, glass and steel.

The other main area of the restaurant is Armani/Privé which has more of a club vibe. As the fourth Armani/Privé in the world Armani wanted things to be a bit different and so the space is split into two main parts – an up-beat lounge and a 5,000 square-foot rooftop terrace which offers skyscraping city views reminiscent of a scene from Blade Runner. Inside chic sleek blacks are matched by lush velvet chairs, while outside wooden decking, rattan furnishing and candlelit containers create a romantic yet futuristic mood.

Of course, they do not disappoint in the food arena as well, with an extensive menu that boasts a wide selection of Italian and Japanese fare. While their Italian cuisine focuses on simple, traditional techniques incorporating influences from the different regions of Italy, their Japanese dishes are more experimental, with beautifully fresh ingredients matched by elegant and innovative presentations. This is one powerhouse that deserves to be visited at least once.

Originally published in Today’s Living magazine, November 2010

Dramatic Designs – The Great Hill

Idiosyncratic decorations and distinctive materials give this home an aura of prestigiousness.

This is another luxurious design project from the high-class realms of The Great Hill residential complex in Sha Tin. At 4,380 square-feet, the entire stand-alone house is seeped in distinction, with slick licks of style emerging throughout. The interior design was overseen by Jason Lee of J’s Design House and he successfully merged interesting materials, innovative light fixtures, neoclassical chic and plenty of natural touches to give this home the refined appeal it now has.

Continue reading Dramatic Designs – The Great Hill