In a move towards building its Sydney presence into a full-service offering, Jones Day has recruited the head of Freehills restructuring and insolvency practice Philip Hoser.

Hoser told ALB that he thinks this could be the first of a number of US firms ramping up their presence in Australia similar to the way they moved into London in the late 80s and early 90s.

“I don’t think it will happen to the same extent as London because the market isn’t nearly as deep but it’s absolutely clear to me that Australia, both by itself and as a regional hub, is an important place for these US firms to be,” Hoser said. “Jones Day has identified that opportunity and made a commitment to building on it.”

He said that it might take five years to see if he’s right but he thinks that Australia’s legal system and political stability make it an important hub both in a regional context and for domestic work. Hoser expects Jones Day’s Sydney office to grow significantly over the next few years.

“It takes time to bring people across from other firms so it’s not something that will happen overnight but watch this space and I think you will see it grow considerably over the next three to five years,” he said.