Gide dials back Asia presence
Gide Loyrette Nouel has reduced its presence in Asia over the past few years, after a period of expansion in the region. The firm closed its Hong Kong and Hanoi offices in June, and pared down its staff in Ho Chi Minh city. David Boitout, a corporate and M&A partner at the firm’s Paris office, has commented that regional market needs have tapered off, decreasing the need for a large presence in these cities.
Regional partnerships are becoming a more prominent component of Gide’s Asia strategy, and the firm expects partnerships to fill the void left by shuttered offices. Partnerships will also allow Gide to focus on its core European clientele, as well as its China practice, which remains the firm’s key focus in Asia.