Law Firms
Dewey & LeBoeuf Pulls Out of N.C., Sets Sights on Qatar
Posted Oct 20, 2008, 03:27 pm CST
By Molly McDonough
Citing the consolidation of the banking sector and a slowdown in the structured finance market, New York's Dewey & LeBoeuf announced it is pulling its office in Charlotte, N.C.
The New York Law Journal says that a firmwide memo detailed the closing, which means eight Charlotte lawyers and support staff are out of jobs.
Bank of America and Wachovia are both based in Charlotte, making the city a major banking center. But law firms began pulling out of the market as the subprime crisis took hold last year.
Dewey, which has also pulled out of Jacksonville, Fla., and Hartford, Conn., is expected to focus on international growth and plans to open offices in early 2009 in Abu Dhabi, United Arab Emirates, and Doha, Qatar, the legal newspaper reports.