Munich is home to major banks and insurance companies, private equity and venture capital houses as well as leasing companies, making the city an increasingly significant financial center. In addition, Munich is the first port of call for private trusts and is also the center for intellectual property with institutions such as the German and European Patents Offices and the Federal Patents Court. The city is regarded as having drawn level with Düsseldorf in importance and is only behind Frankfurt as regards priorities for law firms.

Significant developments:

- Dentons causes a stir by luring away a 20-strong team from Norton Rose Fulbright to launch its new office, thereby causing the largest power shift in the Munich market for years.

- Hengeler Mueller is left reeling with the rest of the market when Kirkland & Ellis lands corporate partner Dr. Achim Herfs.

- Munich is fast becoming a contender to rival Frankfurt and Düsseldorf as a hub for German corporate law.