Many Biglaw corporations are fleeing from China, closing workplaces left and proper. Companies that haven chosen to stay, nevertheless, are seeing their companions do the exits for them. Kirkland & Ellis, arguably essentially the most profitable regulation agency on the planet, is a type of corporations, and the authorized group has taken discover, main many to surprise if the agency has “misplayed” Asia. Legislation.com Worldwide has extra particulars:
Eleven companions have left Kirkland & Ellis in Hong Kong since February of this yr. Their departures comply with these of 10 extra companions who left the agency in 2024.
Twenty-one accomplice departures from one agency in a single area in lower than two years is noteworthy for any regulation agency, even for the world’s richest and most distinguished follow. The exodus calls into query the well being and viability of Kirkland’s enterprise and technique in Asia, the place it has lengthy targeted on Better China with three workplaces within the area.
Kirkland is claimed to have performed layoffs in its Hong Kong workplace final March, claiming that its group was “too huge.” Different attorneys within the space have identified a reported “noxious tradition” on the agency, the place the secret for legal professionals is to “kill or be killed.” An insider on the agency claims that the Shanghai and Beijing workplaces “haven’t been making a living for a really very long time” — and but the agency has chosen to retain all three of its workplaces in China.
For its half, Kirkland & Ellis doesn’t see an issue. “We stay deeply dedicated to our long-term technique and presence in Asia, which incorporates fostering a collaborative tradition the place our expertise can thrive,” the agency’s spokesperson informed Legislation.com Worldwide.
Will Kirkland quickly turn into one of many subsequent Biglaw corporations to say zàijiàn to its workplaces in China? You may electronic mail us or textual content us (646-820-8477) if in case you have any intel. Thanks.
The Kirkland Impact: Has the Agency Misplayed Asia? [Law.com International]
Staci Zaretsky is the managing editor of Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be at liberty to electronic mail her with any ideas, questions, feedback, or critiques. You may comply with her on Bluesky, X/Twitter, and Threads, or join together with her on LinkedIn.
