Signage is seen outside of the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly">
New York-based law firm Paul, Weiss, Rifkind, Wharton & Garrison has confirmed to ALB that it will close its Beijing office by the end of 2024. According to records kept by ALB, it will become the 13th U.S. law firm this year to scale back its China operations.
When it established its Beijing office in 1981, Paul, Weiss was one of the first foreign law firms to enter the mainland market. In recent years, it has maintained a lean presence in the PRC, its office comprising partner Greg Liu, counsel Jack Sun, and associates Mavis Feng and Cedric Wang.
Liu has worked at Paul, Weiss for nearly 22 years, but the firm has yet to reveal whether he will stay with the firm. According to information from the Hong Kong Law Society website, Liu is also registered with the firm’s Hong Kong office.
Following this decision, Paul, Weiss will retain only its Hong Kong and Tokyo offices in Asia. The firm told ALB: “We remain committed to having a strong presence across Asia, and will continue to provide the highest-quality service to our clients in all of our global offices.”
Paul, Weiss began its journey in China with an office at the Beijing Hotel. Its founder, Jerome A. Cohen, who also established Harvard’s East Asian Legal Studies Center, led the firm in contributing to numerous historic and cutting-edge transactions in China. The firm’s practice areas in China have included M&A, PE/VC, outbound investment, inbound investment, capital markets, corporate and project finance, restructuring, and internal investigations.
Jamie Horsley, the first managing partner of Paul, Weiss’s China practice, once remarked: “Since the early days of China’s ‘Reform and Opening’ and throughout the vagaries of the U.S.-China relationship, Paul, Weiss lawyers have helped clients navigate the twists and turns of law, the economy and politics. Paul, Weiss will continue to serve as a bridge connecting businesses, individuals and other clients in the U.S., China and elsewhere.”
Currently, Paul, Weiss’s Hong Kong office comprises eight legal professionals, including two partners and one counsel.
