Topic to companion vote
Herbert Smith Freehills is about to merge with the US legislation agency Kramer Levin Naftalis & Frankel, forming a brand new transatlantic large with over 2,700 legal professionals and revenues exceeding £1.5 billion.
The brand new authorized participant will likely be referred to as Herbert Smith Freehills Kramer, or just HSF Kramer within the US, and can have 25 places of work globally.
Kramer Levin is the smaller of the 2 companies, with simply three places of work throughout the US in New York, Silicon Valley, and Washington, DC, together with one worldwide hub in Paris.
The merger, nonetheless topic to companion approval, will outcome within the new agency working below a unified revenue pool.
Rebecca Maslen-Stannage, HSF chair and senior companion, mentioned:
“That is transformational. We now have lengthy been dedicated to increasing our providing within the US and Kramer Levin is the proper match. The mix delivers rapid progress for each companies from day one.”
Howard T. Spilko, co-managing companion of Kramer Levin, added: “Becoming a member of forces with Herbert Smith Freehills is a one-of-a-kind alternative that helps us obtain our imaginative and prescient and potential for strategic progress.”
He continued: “The mix supplies us with a big aggressive benefit by bolstering our vacation spot practices with a deeper bench, broader geographic attain and sector experience, whereas offering the chance to collaborate to attain nice outcomes for purchasers internationally.”
Earlier this yr Allen & Overy and US outfit Shearman & Sterling formally joined forces to create A&O Shearman, a brand new transatlantic Magic Circle large with revenues of £2.9 billion.