15 February 2017 at 10:00 BST

Weil Gotshal is latest firm to exit Middle East

Weil, Gotshal & Manges is turning its back on the Middle East as plans are afoot to close its only office there this summer.

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The firm, which has close to 300 partners in total, is reportedly to close its Dubai arm this summer after some eight years in operation.

It is believed that Middle East head and private equity partner - who is also the only partner based in Dubai - Joseph Tortorici will relocate to an office in Europe.

Middle East exits a trend

Last week Global Legal Post reported that two of the world’s largest law firms were set to shut up shop in Qatar.

Clifford Chance and Herbert Smith Freehills are both closing their offices in the region in the coming months.

Clifford Chance moved into its office in Qatar six years ago and Herbert Smith Freehills launched in the country four years ago.

Clifford Chance had already closed its Saudi Arabia office after a legal battle last year.

And Herbert Smith Freehills closed its Abu Dhabi office in 2015.

In addition, US firm Baker Botts closed its Abu Dhabi office in 2015, and Simmons and Simmons its office in 2016. Latham & Watkins also closed offices in both Abu Dhabi and Doha in 2015. 

Good year for Weil

The move comes after an impressive year for Weil, which saw a 9 per cent increase in income seeing revenues hit $1.27 billion.

And, during the 2016 financial year, profit per equity partner was up over 22 per cent to $3.1 million. 

 
   
 
 
 

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