The UK is the second-largest legal market in the world — and London, home to five of the top 20 law firms by revenue globally, is the jewel in its crown. But the City is facing severe threats to its position as a legal and financial powerhouse. Among the issues...
industrial news
US law firms are set to double down on their investment in London which has seen New York’s legal elite hire snap up leading partner talent from UK rivals, according to London’s top lawyers “There’s obviously a very good lateral market in London with the Magic Circle. It’s probably an...
High-profile venture capital firm Andreessen Horowitz has chosen London for its first international office as it plans to build a UK crypto outpost. The much-watched Silicon Valley firm said in a blog post on 11 June that it had been in discussions with a number of policymakers and regulators as it...
Big US banks face a challenging environment for office-space loans but the situation is expected to remain manageable for lenders over time, Citi analyst Keith Horowitz said on 29 May in a summary of a recent industry event hosted by the bank. Citigroup.’s 2023 Beyond the Basics conference highlighted office space...
For much of the last three years, banks could feel pretty good about their loan books—but as worries of a weakening economy mount, cracks in the health of bank borrowers are starting to show. Banking giants Citigroup (ticker: C) and Wells Fargo (WFC) are more susceptible to weakening credit quality,...
Wells Fargo agreed to pay shareholders $1bn to settle a class-action lawsuit that accused the bank of overstating its progress in cleaning up after its 2016 fake accounts scandal. The bank’s shareholders alleged Wells Fargo and its past leadership misled them about how swiftly they were fixing the governance issues...