A Financial Center Recovers its Equilibrium Post-Recession

The National Law Journal


When the financial crisis hit, Charlotte's two hometown banking giants, Wachovia Corp. and Bank of America Corp., took a mighty fall — and the associated legal work dove with it. Wachovia was forced into the arms of San Francisco-based Wells Fargo & Co. and the government bailed out Bank of America; it has been downsizing ever since. Among the consequences: Now shuttered Dewey & LeBoeuf closed its Charlotte office in 2008 and Sonnenschein, Nath & Rosenthal did the same in 2009. Other firms laid off staff and attorneys.

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