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Fried Frank to end Asia presence from June
The New York-based, 470-lawyer firm is said to be planning to shut down its two Asia offices, in Shanghai and Hong Kong - and seems likely to lose most of its four partners, 10 lawyers and 18 support staff located there.
Fried Frank is shutting down its Hong Kong office leungchopin
Media reports say that the two offices have been operating at a loss. Partners were told about the plans a week ago. While discussions have begun about relocating the personnel, it seems more likely that most of them will leave. The firm still has five offices but all of them - New York, Washington DC, London, Paris and Frankfurt - are in the west.
Service offices
However, the firm is expected to retain service offices in the two Asian cities and is expected to keep its practice licence in China. The firm's website still refers to the offices. It says, for instance: 'Opened in 2006, Fried Frank's Hong Kong office remains one of few international law firms in Hong Kong offering US, Hong Kong and English law capabilities.' Source: Asian Legal Business
