In an intriguing move, leading firm Mayer Brown is planning to significantly reduce its presence in Greater China, departing from its current offices and maintaining a considerably downscaled operation in the region. The firm, which is highly ranked in the Am Law 100, presently houses around 170 lawyers in its Beijing, Hong Kong, and Shanghai offices. This information was first brought to light in a report by Law.com International.
Following the split, much of the existing Hong Kong workforce will transition to an independent legal firm managed by current Mayer Brown partners, though retaining a diminished office in Hong Kong. However, the specifics about the two firm’s individual forms and leadership post-separation are not clear presently. As per the report, the existing offices in Beijing and Shanghai will no longer be operated by Mayer Brown.
Mayer Brown’s decision to decrease its number of lawyers in Greater China is thought to be driven by several factors. These include a prolonged market downturn, serious risks pertaining to data security, and the strained relationship between the U.S. and China. It remains to be seen how other major law firms will react to or be influenced by these ongoing concerns, and which will be the next to reassess their Chinese office footprints.
You can read more on this developing story here.