Many Biglaw companies are fleeing from China, closing places of work left and proper. Corporations that haven chosen to stay, nonetheless, 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 companies, and the authorized neighborhood has taken discover, main many to surprise if the agency has “misplayed” Asia. Law.com International has extra particulars:
Eleven companions have left Kirkland & Ellis in Hong Kong since February of this yr. Their departures observe these of 10 additional partners who left the firm in 2024.
Twenty-one companion 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 prominent apply. The exodus calls into query the well being and viability of Kirkland’s enterprise and technique in Asia, the place it has lengthy centered on Larger China with three places of work within the area.
Kirkland is alleged to have conducted layoffs in its Hong Kong workplace final March, claiming that its workforce 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 places of work “haven’t been getting cash for a really very long time” — and but the agency has chosen to retain all three of its places of work 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 advised Regulation.com Worldwide.
Will Kirkland quickly develop into one of many subsequent Biglaw companies to say zàijiàn to its places of work in China? You possibly can email us or textual content us (646-820-8477) you probably have any intel. Thanks.
The Kirkland Effect: Has the Firm Misplayed Asia? [Law.com International]
Staci Zaretsky is the managing editor of Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be at liberty to email her with any suggestions, questions, feedback, or critiques. You possibly can observe her on Bluesky, X/Twitter, and Threads, or join together with her on LinkedIn.
