Docklands' post-crunch lustre fades as a hub for City law
While hardly representing a fatal blow to Canary Wharf's status as a world-class banking hub, the news that one of only three major law firms to have headed east in the 20-odd years since the development's launch is to now leave must be a tad disappointing for Docklands' backers. Allen & Overy's (A&O) decision to transfer 200 staff in its banking practice to its Spitalfields HQ leaves Clifford Chance (CC) and Skadden Arps Slate Meagher & Flom as the only major legal players on site. Given the lack of success the development has had in enticing law firms eastwards even during the boom years, the chances of a legal community by the Thames now look remote. Law firms are a funny breed - as much as they like to put their rivals down, they want to be in the community of their peers.
The departure of Allen & Overy underlines the Wharf’s failure to woo City lawyers
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