Several high-profile law firms are making strategic moves to consolidate their presence in China. The latest firm to do so is Weil Gotshal, one of the highest-ranking firms in the Am Law 100 list. The company, as reported by Law.com International, has already closed its office in Beijing and is now contemplating on shutting down its Shanghai office as well.
Speaking on the issue, a Weil Gotshal administrative staff member at the firm’s Hong Kong office revealed that the Beijing office ceased operations towards the end of last year. As a result of the closure, two lawyers – a counsel and an associate – were released. Weil initially opened this office back in 2008.
In terms of the proposed closure of the Shanghai office, which first opened in 2004, a spokesperson for Weil shared that the firm is now looking to streamline its Asia operations through its Hong Kong office. While the specifics of this move will be worked out in the next few months, the firm reaffirmed its dedication to its award-winning Asia practice and its commitment to providing client services in the region.
The Shanghai office of Weil is currently home to two partners and five other attorneys. On the other hand, its Hong Kong office houses 22 lawyers, including five partners. However, the firm has yet to comment on whether alternative employment arrangements will be provided for its Shanghai lawyers, should the office close down.
As these deals play out, legal professionals across the globe will be closely watching to see if other major law firms will be saying zàijiàn (goodbye) to their China offices. If you have any insights or recommendations about these potential changes, please email us or text us at 646-820-8477. Thank you.
Read more about Weil Gotshal’s decisions regarding their Beijing and Shanghai offices.