Skadden, Arps, Slate, Meagher & Flom, a leading U.S. law firm, announced today the decision to close its Shanghai office as part of a strategic adjustment to shifting market dynamics. In a statement, the firm noted, “This decision reflects our ongoing commitment to adapt our operations and maintain a strong presence across Asia.”
The closure comes as part of a broader effort to rescale its corporate practice in China. Skadden, which employs approximately 1,700 lawyers globally, will continue to operate its offices in Beijing and Hong Kong, ensuring that clients receive comprehensive legal services throughout the region.
As part of this transition, the firm will reduce its corporate practice headcount in China. Approximately 20 lawyers currently based in Shanghai will be offered opportunities to relocate to other Skadden offices. Notably, partners Yuting Wu and Haiping Li, who specialize in corporate law including cross-border mergers, acquisitions, and capital markets, will transition to new roles; Li will move to Hong Kong, while Wu will relocate to Beijing.
This move aligns with a trend observed among major U.S. law firms, many of which have scaled back their operations in China over the past two years due to economic uncertainties, geopolitical tensions, and a slowdown in deal activities. Firms like Reed Smith, Perkins Coie, Dechert, Morrison & Foerster, and Sidley Austin have also made similar decisions in recent months.
A spokesperson for Skadden declined to provide additional comments at this time but emphasized the firm’s focus on maintaining robust service offerings in the Asia-Pacific region.
Read more:
Judge Grants Google Delay On Play Store Overhaul In Ongoing Legal Dispute With Epic Games
Tennessee Court Blocks Abortion Ban In Medical Emergencies Amid Ongoing Lawsuit
Tennessee Court Freezes Abortion Ban As Trump Case Unfolds With New Evidence