Linklaters is pulling out of four of its six offices in Central and Eastern European (CEE), as the City giant moves to aggressively target the world's key emerging markets through a new 50-partner group.

The firm is launching a new practice to service emerging markets in Europe, the Middle East and North Africa (EEMENA), to be led by capital markets partner Nick Eastwell (pictured).

Linklaters will use the new group, which will comprise more than 50 partners, to target work across the whole region with a focus on markets such as Russia, Poland, Ukraine, Turkey, Kazakhstan, the United Arab Emirates and Saudi Arabia.

However, as revealed this week by legalweek.com, a review of the firm's international offices by senior management concluded it should pull out of Budapest, Bratislava, Bucharest and Prague.

The offices will break away and re-launch as a separate firm, expected to be headed by current CEE head Jason Mogg. The firm will maintain a 'best friends' relationship with Linklaters.

Linklaters will keep its offices in Moscow and Warsaw, which between them house around 17 partners and 130 lawyers.

Eastwell told Legal Week: "There is huge growth in the EEMENA region – we cannot have enough resources to get down to details in all these jurisdictions. Our decision was to focus on larger, faster-growing markets. It makes more sense to serve smaller markets with existing 'best friends' which are trusted advisers. They are more focused and can go deeper than we do."

The move is being watched with interest by rival firms, many of which have been bolstering their presence in emerging markets.

Freshfields co-head of CEE/CIS Stephen Revell said: "It will be interesting to see how the relationship develops between 'Mogg & Co' and Linklaters. We have chosen not to have offices everywhere and we think that strategy is successful."

A partner with a rival top 10 City firm in the CEE said: "If the move does not work out then it could be seen as a huge mistake to give up strong offices. Eastwell helped father these offices. In a way he is returning to a successful playing-ground, but with a different strategy."

Eastwell will remain based in London but Jim Rice has taken his role as global capital markets head.