US law firm Sidley Austin is closing its Shanghai office and consolidating its China operations in Hong Kong and Beijing by September. This move follows a trend of global firms reducing their presence in China. Other firms like Mayer Brown, Weil, and Law firms in general have seen revenue growth and increased demand in 2024 compared to 2023.
Law firms had a robust first quarter of 2024, helped by growth in billing rates, according to two reports released within the past week. https://t.co/bp5Cue3tD8
Law firms are off to a strong start in 2024. Demand for legal services was up 1.9% in the first quarter of the year over the first three months of 2023, according to Thomson Reuters’s report. Much of that rate growth was driven by midsize law firms https://t.co/JvudK5OvoN https://t.co/pyxd1Ik97C
Sidley has relocated some of its lawyers, and Weil’s only Shanghai partner has also moved to Hong Kong. https://t.co/5GhYk7Raou
Sidley and Weil will have one office each in mainland China after these closures are complete. https://t.co/novjSwDdTG
Demand for legal services was up 1.9% in the first quarter of 2024 over the first three months of 2023, according to Thomson Reuters Institute’s Law Firm Financial Index. More on this in @Karen_Sloan1's report https://t.co/JvudK5P3el https://t.co/DOAo14JnZz
Law firm Sidley Austin said it will close its Shanghai office, relocating staff and consolidating its China operations in Hong Kong and Beijing by September https://t.co/VDezYMT4ji https://t.co/DihRbvxfZD
Sidley is shrinking its footprint in China, as the tide of global law firms that entered the Chinese legal market in recent decades has begun to reverse. Subscribe to The Daily Docket for more: https://t.co/7Mxw41TCOf https://t.co/IUDyUZus6g
Another major U.S. law firm is shrinking its footprint in China, as the tide of global firms that entered the Chinese legal market in recent decades has begun to reverse @SaraMerken https://t.co/VDezYMTC8Q https://t.co/S8LJnEdW2v
Law firms are off to a strong start in 2024 after a lackluster 2023 that saw weak client demand and declining collections on billed work. Plus, Sidley is the latest US law firm to shrink its presence in China. Subscribe to The Daily Docket for more: https://t.co/7Mxw41TCOf https://t.co/n82ssjUpzC
Law firms kicked off 2024 with strong demand and profits, report finds https://t.co/Q9GyF6DGEc https://t.co/LAbix5n9j2
Law firms are off to a strong start in 2024 after a lackluster 2023 that saw weak client demand and declining collections on billed work, new financial data shows https://t.co/JvudK5OvoN @Karen_Sloan1 https://t.co/dh44NeU1ob
Law firm revenue soared by 9.5% during the first quarter of 2024, buoyed by a nearly comparable hike in billing rates compared to the similar period in 2023. https://t.co/SHObNdqjMe
US law firm Sidley Austin to close Shanghai office https://t.co/QtMHB4Cavs https://t.co/yNpv0eEVuA
Law firm Sidley Austin is shrinking its footprint in China, as the tide of global firms that entered the Chinese legal market in recent decades has begun to reverse https://t.co/VDezYMT4ji @SaraMerken https://t.co/gY5FvgfPuN
China Closures Continue as Sidley Shutters and Weil Winds Down Shanghai Offices https://t.co/a636N6yLE0
One Mayer Brown lawyer told https://t.co/FaE10Oosaf International that the firm’s decision to break away from its existing Greater China presence likely stems from several different factors. https://t.co/2cpmNu794v