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Orrick Herrington & Sutcliffe has backtracked on plans to open an office in the Middle East as a result of the bleak economic outlook for the region.
Last year (15 December) The Lawyer reported that the US firm had underscored its commitment to the Middle East and was exploring opportunities for a dual assault in Abu Dhabi and Dubai. While an exact timeframe for a launch had not been confirmed, chairman Ralph Baxter (pictured) told The Lawyer he was confident that plans were moving quickly.
Baxter subsequently said: “Yes, plans for the Middle East have been put on hold. We’re still looking at opportunities there, but considering the developments we’ve seen lately this isn’t likely to happen very soon.”
Despite the temporary halt on the Middle East plans, Baxter insisted that Orrick remains committed to international growth.