Law firms grow in China as thousands are laid off in the US, UK
Proskauer Rose, and Slaughter and May are among the firms that are opening new offices in China, adding to the almost 30 foreign firms in China since September 2006, a 19 percent increase to 177 firms, writes Bloomberg. In Hong Kong, foreign laws firms doubled to 66 since 2004, driven by IPOs.
US and UK law firms firms with a strong presence in Hong Kong and mainland China include Orrick, Herrington & Sutcliffe LLP, Latham & Watkins LLP, Allen & Overy LLP, Skadden, Arps, Slate, Meagher & Flom LLP, O’Melveny & Myers LLP, Winston & Strawn LLP, Paul, Hastings, Janofsky & Walker LLP, and Clifford Chance LLP.
The expansion continues as many of these firms are hit by the global financial crisis, reacting with massive job cuts in the US and the UK.
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