Leading Finnish law firm Hannes Snellman is in the process of closing its Beijing and Shanghai offices, making it the first foreign firm to pull out of China in the wake of the global economic slowdown. Tomas Holmberg, a Helsinki partner heavily involved with Hannes Snellman's China practice, said the weakening economy had led the 250-lawyer law firm to narrow its international strategy and focus more on the Scandinavia and Russia markets. "In challenging times like these, you have to make decisions about where to deploy your resources," he said.
June 16, 2009 at 07:51 AM
1 minute read
The original version of this story was published on Legalweek
Leading Finnish law firm Hannes Snellman is in the process of closing its Beijing and Shanghai offices, making it the first foreign firm to pull out of China in the wake of the global economic slowdown.
Tomas Holmberg, a Helsinki partner heavily involved with Hannes Snellman’s China practice, said the weakening economy had led the 250-lawyer law firm to narrow its international strategy and focus more on the Scandinavia and Russia markets.
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