New York-headquartered law firm Skadden, Arps, Slate, Meagher & Flom has confirmed to ALB that it will be closing its Shanghai office and adjusting its corporate business in China.

“We continually examine the scope and scale of our practices and operations around the world to ensure that they are aligned with our clients’ needs and our strategic plans. Shifting market dynamics have led us to the decision to begin winding down our operations in Shanghai and rescale our China corporate practice,” the firm states.

Skadden’s Shanghai office was established in 2008. According to the firm’s website, the Shanghai office currently has 19 legal professionals, including two partners: Haiping Li, the office head, and Yuting Wu. Li works across both the Shanghai and Hong Kong offices.

Skadden also maintains offices in Beijing and Hong Kong. The Beijing office, established in 1991, currently has 13 legal professionals, including two partners, Kai Sun and Yilin Xu, both of whom were promoted to partnership after 2022.

The Hong Kong office has a total of 76 employees and is led by lawyer Steve Kwok.

It is not yet clear how many employees will be affected by the adjustment to the firm’s corporate practice. According to ALB’s data, there are 13 lawyers/staff in the corporate practice area in Shanghai, 9 in Beijing, and 49 in Hong Kong.

“We will continue to provide outstanding service to our clients from our five other offices in the region,” the firm says. Skadden also has offices in Seoul, Tokyo, and Singapore.

“Skadden is committed to a strong presence across Asia and to serving our clients in the region with excellence,” the firm adds.

Skadden is the latest U.S. law firm to adjust its presence in China in 2024. Click here for the full list and ALB’s related reports.