With the news that Latham & Watkins is closing its doors in Doha and Abu Dhabi, it would be easy to speculate that the American giant is struggling in a region plagued by uncertainty. But the reality is more complicated.

Many of the firm’s competitors on the ground are unsurprised by the news, with some suggesting that it is the right decision for Latham to take considering it is a recent entrant to the regional market, having launched in 2008 with offices in Dubai, Doha and Abu Dhabi.