Top 50 Biglaw Firm To Close Offices In Hong Kong, Beijing, And Chicago
Many other Biglaw firms are shutting down offices in China, but why is this firm shuttering in Chicago?
Biglaw firms are continuing to leave China, closing offices there apace — but the latest one to do so is also closing one of its U.S. outposts at the same time.
Dechert — a firm that brought in $1,293,528,000 gross revenue in 2023, putting it at No. 39 in the Am Law 100 — recently announced that it would be closing not only its Hong Kong and Beijing offices, but its Chicago office as well. The firm plans to wrap up operations at these three offices by the end of 2024. As noted by Bloomberg Law, Dechert has 14 lawyers in Hong Kong, three lawyers in Beijing, and nine lawyers and patent agents in Chicago.
Leaving China is understandable, as that’s what most Biglaw firms are doing right now given geopolitical conditions, but Chicago is one of the top legal markets in the country. What’s going on?
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While the firm did not immediately respond to a request for comment from either Bloomberg Law or Reuters on what will happen to attorneys and staff affected by the office closures, Dechert did offer this statement:
“We remain committed to representing asset management firms, financial institutions and companies on issues critical to managing their business and capital—from high-stakes litigation to complex transactions and regulatory matters.”
Best of luck to those who may be getting let go from Dechert thanks to these office closures.
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Dechert to Shutter Chicago, Beijing, and Hong Kong Offices [Bloomberg Law]
Law firm Dechert to close Chicago, Beijing, Hong Kong offices [Reuters]
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.
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