U.S. Law Firm Shook, Hardy & Bacon Closes London Office
Shook, Hardy & Bacon has announced the closure of its London office, marking another departure of a U.S. legal practice from the UK capital.
The move from the Kansas-headquartered law firm comes as part of a strategic realignment and follows a trend of American law firms reassessing their presence in London.
The litigation-focused firm, which has over 520 lawyers across 18 U.S. locations, has been winding down its UK operations for several months.
The decision to close the London office was made after a thorough assessment of business operations and a reevaluation of strategic objectives.
Two of the firm’s London partners, Sarah Croft and Simon Castley, have already moved to law firm CMS. The London office, which was located at 25 Old Broad Street, housed only three lawyers at the time of closure.
Shook, Hardy & Bacon has emphasized that this closure will have minimal impact on its overall business.
The firm remains committed to representing global companies from its robust U.S. platform and plans to continue building relationships with firms worldwide to achieve optimal outcomes for its clients.
Financial Performance
In the 2023 financial year, Shook, Hardy & Bacon reported revenues of $459.5 million, remaining relatively stable compared to the previous year. However, the firm’s average profit per equity partner saw a 5 percent decrease, settling at $1.3 million.
Shook, Hardy is not alone in its decision to exit the London market. Another U.S. firm with Missouri roots, Armstrong Teasdale, has also announced plans to close its London base in 2024.
The trend shows a reassessment of international growth plans by US firms and is doubtless also impacted by the intense competition of the larger US and London-based Magic Circle law firms muscling their way into the major transactional, public law and related work.
Economic uncertainty and changing client requirements also impact the decisions made by the major firms.
US law firms have also seen profits dip, although the major firms continue to take home some major money, as we have reported.
What Other U.S. Law Firms Are Closing London Offices
Among the other prominent U.S. law firms that have also closed their London offices in recent years are Vinson & Elkins, which announced the closure of its London office in 2023, affecting around 70 lawyers and staff.
- White & Case did not close their office completely but significantly downsized the office in 2023, cutting 45 jobs.
