Arnold & Porter Kaye Scholer has announced that it is closing its Frankfurt office next year, the latest firm to shutter international offices amid weaker economic prospects caused by the coronavirus pandemic.

The Frankfurt office—which opened in 2002—is currently home to 16 lawyers, including nine partners, according to Arnold & Porter’s website.

In a statement, Arnold & Porter said: “After careful review of the marketplace and the firm’s strategic priorities, we have made the decision to close our Frankfurt office in 2021. We are taking a number of steps to ensure a smooth transition for our attorneys, professional staff and clients in that office. We will remain focused on our core industries and practices, while still maintaining a strong presence in Europe through our Brussels and London offices.”

The firm added that it will continue serving its clients in Germany through its international platform. Its Frankfurt office mainly serves small and medium-sized German companies and large international companies and banks with operations in the country. Its core industry expertise includes financial services, life sciences, energy and technology.

The office closure is the firm’s first since Arnold & Porter and Kaye Scholer merged at the start of 2017 to create a $1bn law firm. It has nine offices in the US and, once Frankfurt is closed, will have four international offices in London, Brussels, Shanghai and Seoul. It also has an operations centre in Tallahassee. 

Other firms have been retrenching in Europe and elsewhere. Top 25 UK firm DWF said in June that it would close its Brussels and Singapore offices, as well as downsize its presence in Cologne and Dubai in an effort to cut costs, resulting in around 60 job losses.

A number of firms have also exited Asia in recent months. Eversheds Sutherland, for instance, called time on its Singapore joint venture with local firm Harry Elias after just three years in June, with its future plans in the city state now under review. 

Meantime, Vinson & Elkins said it intends to pull out of Beijing by the end of the year, while continuing to evaluate its business in Hong Kong. An exit in the latter would follow in the footsteps of Orrick and Osborne Clarke, which have both announced decisions to leave Hong Kong this year. 

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