The JUVE Award "Law firm of the year for banking and finance" was awarded this year to Allen & Overy.

Peter H. Hoegen, who heads the firm's Banking & Finance practice, comments: "In recent years, we have focused even more closely our areas on the needs of the market. In expanding our Banking & Finance practice, we have not only placed deliberate emphasis to internal promotions, but also significantly strengthened the areas of banking regulation and funds with lateral hires. We are delighted that winning the award confirms this strategy. We regard the award both as a motivation and an obligation to master the challenges arising from future market developments. We are well positioned to meet these challenges."

The JUVE Awards recognise significant developments made by law firms in a particular legal or regional area in the previous few months. JUVE's reasons for giving the award to Allen & Overy include: "Securing Frank Herring and his team from Norton Rose, which immediately made Allen & Overy a serious player in the field of regulatory law and investment funds. These are fields in which the firm had some catching up to do, while its finance experts have long been among the top market players. At the same time, the capital markets practice, led by Dr Oliver Seiler, has finally made a comeback. The practice is now among a small number of contenders that are hot on the heels of the top law firms. Moreover, the finance and restructuring practices have long been leaders in the field. Allen & Overy has now achieved the position which it had always seen itself occupying: at the top of the market."

A total of 16 partners, six counsel and approximately 50 associates belong to Allen & Overy's Banking & Finance and Capital Markets practices. Allen & Overy opened its first German office in Frankfurt in 1994, followed by Hamburg in 2000 and, seven years later, Mannheim and Düsseldorf, with an office in Munich being launched in 2008. Today, more than 180 lawyers, including 43 partners and 15 counsel, work in the five German offices and advise their clients in all areas of corporate and business law.