The Asian operations of DLA Piper are being revamped, with the firm's announcement of a change of leadership, two key capital market lateral hires and the internal promotion of an insurance specialist.

Firstly, EMEA corporate head Alastair Da Costa is set to become the firm's new managing director for Asia on 1 January 2008, when he succeeds the outgoing Nick Seddon.

Having held the post for four years, Seddon will reportedly work closely with Da Costa to ensure an effective handover and will continue as a partner with the firm until May, after which DLA Piper said he would "pursue opportunities outside the firm".

"I would like to thank Nick for his valuable contribution, which has seen a transformational change in our Asian business," said DLA Piper joint CEO Nigel Knowles.

A corporate lawyer specialising in corporate finance and M&A, Da Costa only assumed the role of EMEA/joint global head of corporate in 2005.

Meanwhile, the firm has also announced the hiring of corporate and securities partners Stephen Peepels and Gene Buttrill, from Jones Day and Simpson Thacher & Bartlett respectively.

Heading DLA Piper's US capital markets practice in Asia, former SEC attorney Peepels' recent deal highlights include: advising UBS, JPMorgan and CICC on China Merchants Bank's US$2.6bn IPO; and acting for Morgan Stanley, UBS and CICC on the US$1.6bn IPO of Fosun International.

Mandarin-speaker Buttrill focuses on corporate finance transactions in Greater China. His recent deal experience includes work on the US$3.3bn IPO of China Shenhua Energy, and the US$1bn high yield bond offering by CITIC Resources - the largest high yield offering ever from Asia.

Finally, the firm has also made up to partner Hong Kong-based insurance industry specialist Will Harrison. Joining DLA Piper's litigation group, Harrison advises insurers, reinsurers and intermediaries, and his practice encompasses litigation, regulatory and commercial matters for insurance industry players.