Attempting to ‘rebalance’ its regional platform, Orrick Herrington & Sutcliffe, a leading American law firm, has reportedly shut down its Taipei office and is curtailing its operations in Shanghai. This decision mirrors a growing trend among U.S. firms which, amid market fluctuations in Asia, are increasingly choosing to scale back their Asian networks. The spokesperson for Orrick noted that these moves aim to align the firm’s Asia Pacific strategy with current client demand. This includes the successful establishment of their office in Singapore in 2021.
However, Orrick is hardly alone in its strategic shift. Over the past year, a host of big-name firms, such as Latham & Watkins, Perkins Coie, Proskauer Rose, and Akin Gump Strauss Hauer & Feld, have also opted to close offices in mainland China, largely in response to the ongoing downturn in the Asian market.
For further details, consider reading the full article on Orrick’s recent moves on Law.com International.