- Asia
- Lateral moves
- Hong Kong, Beijing
- Capital Markets
Shu Du joins Weil in Hong Kong as it launches a capital markets practice
Shu Du, identified as Skadden's sole Beijing partner, is moving to Hong Kong to join Weil as the firm launches a capital markets practice, Law.com International reported on 12 October.
Du joined Skadden in 2008 and led its Beijing office. His equity capital markets work includes SHEIN's US$1.7bn Hong Kong IPO and the HKEX secondary listings of Baidu and JD.com. He holds a Chambers Greater China 2025 ranking and an IFLR1000 Highly Regarded listing for Capital Markets: Equity, according to his Skadden profile.
The hire follows Weil's rehire of private equity partner Peng Yu from Kirkland & Ellis, the firm said. Yu spent four years at Kirkland and eleven at Ropes & Gray. He was the 18th partner to return to Weil since the start of 2023. Du and Yu form the core of a rebuilt Asia corporate and capital markets team, Law.asia reported.
Weil closed Beijing and Shanghai before consolidating Asia in Hong Kong
Weil shut its Beijing office on 31 December 2023 and then closed its Shanghai branch. That ended roughly 20 years of mainland China presence and moved its Asia operations into Hong Kong, Law.asia reported.
The firm also lost senior Asia leaders. Its Hong Kong managing partner and Asia private equity co-head, Tim Gardner, left in April 2024 to become group general counsel of investment manager PAG, Law.asia reported. Its London co-managing partner was reported in September 2026 to be in exit talks amid partner departures across the firm, Law.com International reported. On the market reading, the hires follow the departures of senior Asia leaders reported above.
Weil's retrenchment followed a wider retreat. Foreign firms pulled back from mainland China through 2024 amid regulatory pressure, geopolitical tension and depressed financial activity. Several US firms closed Beijing and Shanghai offices, Law.asia reported. Du's move leaves Skadden without a Beijing partner. The firm has brought in new Beijing leadership after its former Shanghai head departed, Law.asia reported.
Latham, Kirkland, Jones Day and Davis Polk added Hong Kong capital markets partners in 2026
Weil is hiring into a crowded build-out. Latham & Watkins announced on 1 September 2026 that ECM partner Grace Huang, public M&A partner Edward Freeman and counsel Cindy Kwong would join from Freshfields in Hong Kong, Latham said. Latham also hired Davis Polk capital markets partners Byron Rooney, who led the SpaceX listing, and Dan Gibbons, Bloomberg Law reported.
Kirkland & Ellis capital markets partner Ricky Chow rejoined the firm in Hong Kong in March 2026 after a spell at HKEX. He had been promoted to vice-president of the listing division there, Law.asia reported. Jones Day added Kirkland partner Ming Kong and former Sidley Austin counsel Dominic Sze, Legal Business Online reported. Davis Polk expanded its Beijing bench with ECM specialist Jason Xu from Freshfields, the Global Legal Post reported.
Those moves are concentrated in equity capital markets, the practice area competing firms are staffing fastest. Several hires came from Freshfields, including a senior Hong Kong corporate duo that left for Latham in 2026, Nonbillable reported. Cooley, meanwhile, added capital markets partner Xu Yilin in Beijing. It is one of the few firms still hiring onshore as others consolidate into Hong Kong, Law.asia reported.
HKEX raised US$37.4bn in 2025 IPOs, topping the global ranking
The hiring comes as Hong Kong listings recover sharply. HKEX raised about US$37.4bn from IPOs in 2025, topping the global exchange ranking for funds raised for the first time since 2019, EY reported. KPMG projects the market could raise up to HK$350bn (US$45bn) in 2026 from 180 to 200 applications, SCMP reported.
Mainland companies already listed on A-share markets drove the rebound through Hong Kong secondary listings. Eight raised over HK$78bn in the first half of 2025, about 72% of total IPO proceeds, PwC Hong Kong reported. That is the work Du has done: Hong Kong IPOs and secondary listings, the segment Deloitte identifies as driving the 2025 and 2026 fundraising. Weil is pairing the capital markets launch with Yu's private equity practice, targeting China-nexus buyouts, take-privates and cross-border M&A alongside IPO work.
As mainland offices closed, senior China-facing capital markets talent concentrated in Hong Kong, where a record IPO pipeline has firms competing for the same partners. Weil is returning to that market after leaving the mainland, building a new practice around an ECM partner whose recent mandates are among the listings now driving HKEX volumes.
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