'If you don’t have a seat at the top table, it’s going to be hard' – will Cadwalader's Asia withdrawal prompt more pullouts?

US firm set to close Hong Kong and Beijing offices, leading to 25 redundancies

Beijing, China-Article-201607220750

When Fried Frank Harris Shriver & Jacobson announced the closure of its Asia offices last year, the reaction from partners was that it would not be the last to withdraw from the region.

Last week that prophecy came true when news broke that another US firm, Cadwalader Wickersham & Taft, is set to withdraw from the region, closing its offices in Beijing and Hong Kong. However, the fact it was Cadwalader that made the call caught many in the market off guard.

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