DWFDWF To Axe 60 People, Close Two Offices
The firm is also shrinking its presence in Dubai and Cologne.
June 29, 2020 at 10:58 AM
3 minute read
DWF is to close its offices in Singapore and Brussels, and trim headcount in its Dubai and Cologne operations, with around 60 people leaving the firm in total, the firm said in a statement on Monday.
The global downsize will mean around 60 people are to leave the business, including 13 partners, the firm said in a statement.
A person close to the firm said the cuts were happening as part of new CEO Sir Nigel Knowles' strategy for more profitable growth at the firm, which has struggled against the COVID-19 pandemic pressures.
As part of the downsize the firm is closing its Singapore office, which it opened just three years ago with a four-lawyer Eversheds Sutherland team, growing to a six-lawyer team. The firm is also exiting Brussels, where the firm has five lawyers, including two partners.
The firm said in a statement: "Following a strategic review, DWF has decided to close its offices in Brussels and Singapore. It will also have a reduced presence in Dubai with a team of eleven people including three partners – James Fox, Umera Ali and Slava Kiryushin.
"DWF will also have a reduced presence in Cologne and will consolidate its operations in this region of Germany to Dusseldorf, where it opened in October last year."
Knowles added in a statement: "Our international division is a critically important engine for growth for our business. International revenue increased by around 50% in the last financial year and the division now accounts for more than a quarter of all Group income. It is a vital ingredient in our business model to support our global client base.
"The decision to close two of our smaller locations will help drive operational improvements across our business to generate more profitable growth. Longer-term, these markets remain of interest but this is the right move for DWF at this time.
"In Dubai, we will focus on our core sectors with a team led by three partners. We also retain our second Middle East location with our successful team in Qatar.
"Germany is a major global economy and remains a very important location for DWF through our operations in Berlin, Munich and Dusseldorf. Led by managing partner, Oliver Bolthausen, DWF is committed to further developing its German practice through a focus on our global sectors."
The firm added that its executive partner Ben Constance is remaining as a partner, and said that there "are no plans for any further closures or significant reductions in any of its remaining locations".
Knowles replaced former CEO Andrew Leaitherland in a shock management change in May, following disappointing falls in share price at the U.K.'s largest listed firm.
|Read More
DWF's Andrew Leaitherland Replaced as CEO Amid COVID-19 Woes
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