After the U.K. voted to leave the European Union in 2016 there were big hopes for Germany. Many expected Frankfurt to emerge as a rival financial centre to London and that law firms would be deluged with work from worried financial services companies looking to rejig their European operations.

Brexit was a factor in Covington’s decision to open its first outpost in Germany in April 2018, according to Henning Bloss, managing partner of the firm’s Frankfurt office.