Allen & Overy's Hong Kong partnership has taken a hit this week, when it was revealed that at least four partners have been asked to leave.
Whispers reached RollOnFriday last week, with sources within the firm providing a list of those thought to be on the firm's hit list. And this week A&O confirmed that four Hong Kong partners had been shown the precise location of the exit, saying that it was "an unfortunate business decision we had to make. We fully respect these partners and wish them the best". The firm's notoriously itchy trigger finger when it comes to updating its website shows that a couple have left already.
However, RollOnFriday can reveal that there are rumours that another other three partners may soon be packing up their deal trophies and stepping out of air-conditioned bliss into the sweltering Honkers heat. These departures, if true, would leave the firm with as few as 18 partners left in Hong Kong - a cut of over 25%.
The firm refused to confirm the individuals involved, and it's possible that some of the additional departures may be retirements or lateral moves within A&O's Asian network. But with increasing jitters over mainland China's political influence, it augers ill for other law firms in the former imperial outpost.
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Whispers reached RollOnFriday last week, with sources within the firm providing a list of those thought to be on the firm's hit list. And this week A&O confirmed that four Hong Kong partners had been shown the precise location of the exit, saying that it was "an unfortunate business decision we had to make. We fully respect these partners and wish them the best". The firm's notoriously itchy trigger finger when it comes to updating its website shows that a couple have left already.
However, RollOnFriday can reveal that there are rumours that another other three partners may soon be packing up their deal trophies and stepping out of air-conditioned bliss into the sweltering Honkers heat. These departures, if true, would leave the firm with as few as 18 partners left in Hong Kong - a cut of over 25%.
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Partners leaving Hong Kong: how it works |
The firm refused to confirm the individuals involved, and it's possible that some of the additional departures may be retirements or lateral moves within A&O's Asian network. But with increasing jitters over mainland China's political influence, it augers ill for other law firms in the former imperial outpost.
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