Addleshaw to shut down its Hong Kong office
Addleshaw Goddard’s Hong Kong Office is shutting down with the termination of its present lease in September. A number
Addleshaw to shut down its Hong Kong office
Addleshaw Goddard's Hong Kong Office is shutting down with the termination of its present lease in September. A number of partners, other lawyers, including trainees, all will relocate to nearby Howse Williams's law firm.
John Joyce, Addleshaw Goddard's managing partner in London said, "No such firm wants to pull out from jurisdictions which was earlier noted as important to it, but after going through our position wisely in Hong Kong and the matchless set of challenges we face there, we never felt to repeat our lease, while hoping for a vivid change in outlook, is something we can economically explain."
Goddard said it was the correct time to make a change.
"The firm's outstanding Hong Kong team or the hard work they have devoted was never affected at this outcome. The firm would keep on investing and will have market growth and be important sector to the clients," Joyce added.
Supporting the colleagues to look for a new home is the firm's immediate focus, besides helping some lawyers, seeing transfer to Singapore, Dubai or London among other options.
"The key requirement for our business is a pure Asia strategy. We will have 'best friend' approach going ahead to serve client needs in Hong Kong," said Joyce. "Our presence in Singapore will prove the office as our significant presence for Asia."
In 2013, Addleshaw Goddard opened for business in Hong Kong, making it the firm's second office in Asia after it expanded to Singapore in 2021. The employment strength of Hong Kong office includes 20 lawyers, comprising of seven partners as well.