The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Allen & Overy (A&O) is relocating 200 staff from its Canary Wharf offices to its headquarters in the City in a cost-cutting move.
The firm will move the banking team and support staff to One Bishops Square and seek to sub let three floors in the Canary Wharf building.
It has engaged agents Knight Frank and Strutt & Parker to find occupants for the space at Canary Wharf and will retain the top floor of that building for client meetings.
The magic circle firm occupies 500,000 sq ft of its 850,000 sq ft City headquarters. Some of it is already sub let to other firms including Paul Hastings, but further space became available after its restructuring last year in which 247 staff were made redundant in London.
A spokesperson said: “Following a review of our facilities requirements, we’ll be relocating members of the London banking team and some support staff from Canary Wharf to Bishops Square. We’ll maintain meeting facilities in Canary Wharf so clients will experience no difference in the levels of service they receive from Allen & Overy.”
Last year A&O’s landlord Hammerson sold its 75 per cent interest in One Bishops Square to an Omani investor in a deal valuing the building at £445m (5 June 2009).