Milbank to Close Beijing Office, Joining Growing List of Firms

Milbank LLP is shutting down its office in China as global law firms continue to flee the country.

Milbank will close its Beijing office early next year, the firm said Friday. The outpost houses one partner and two associates, including one who splits time in Hong Kong, according to the firm’s website.

“We remain very committed to Asia through our strong presence in Hong Kong, Seoul, Singapore, and Tokyo, and will continue providing the highest-quality service to clients across all of our global offices,” said a spokesperson for Milbank.

Law firms have pulled back their presence in China amid the country’s deteriorating relationship with the US. Several firms have invested in new offices in Singapore as bases for Asia operations.

Milbank focuses largely on corporate finance, restructuring, and litigation. The firm brought in $1.5 billion in gross revenue last year with profits per equity partner reaching more than $5.1 million, according to data from The American Lawyer.

Paul Weiss, another Manhattan-centered corporate firm, said Tuesday it also would close its small Beijing office. More than a dozen US law firms have closed offices or reduced their footprint in mainland China over the past year.

Other firms that have left China or reduced their presence in the county this year include: WilmerHale; Kirkland & Ellis; Skadden, Arps, Slate, Meagher & Flom; Perkins Coie; Weil, Gotshal & Manges; Orrick, Herrington & Sutcliffe; Sidley Austin; Dechert LLP; and Winston & Strawn.