City firm Slaughter and May will close its New York and Singapore offices later this year to concentrate on its 'best friends' strategy.

The firm said it would continue to have a close working relationship with its regional best friend, Australian firm Allens Arthur Robinson, and other firms in Singapore.


In a statement, it said the New York office promoted the firm and provided US market intelligence, while client work was left to teams integrated with US best friends.


Four lawyers seconded to Singapore will return to the London office, while a fifth may transfer to the firm's Hong Kong office. The firm's senior resident lawyer in New York, Mark Cardale, will retire, while the office's other lawyer will return to London.


Senior partner Tim Clark said: 'Around 70% of the firm's work has an international element and over a quarter of new clients are referred by our best-friend firms.'