Fears that downtown Manhattan, New York's traditional financial centre, would not recover from the aftermath of September 11 appear to be easing.

Prominent law firm Thacher Proffitt & Wood, a former World Trade Center tenant, is moving its US headquarters back to the area in 2003, after nearly two years in midtown. And Deutsche Bank last week formally announced its move to Wall Street to occupy JP Morgan's old home at 60 Wall Street.