*New law firm merch alert*
The transatlantic merger between UK-based international outfit Eversheds and US law firm Sutherland Asbill & Brennan has officially gone live today.
Eversheds Sutherland — a new legal powerhouse boasting revenues in excess of £600m — will have 2,300 lawyers across 61 offices in 29 countries. Both firms announced the tie-up back in December following a successful partner vote.
Prior to today’s merger going live, Eversheds — which offers around 50 training contracts annually — had a healthy profit per equity partner (PEP) of £742,000. Scoring As for training, partner approachability, quality of work and peer support in Legal Cheek’s 2016 Trainee and Junior Lawyer Survey, it will be interesting to see what impact the merger will have on this year’s results.
Over in the United States, Sutherland Asbill & Brennan, which posted a 2015 PEP of $1.02 million (£816,000), is much smaller than its UK counterpart. With just 425 lawyers, the firm had, until today, just eight offices across the globe, including Washington, New York, Geneva and London.
Commenting on today’s global launch, Eversheds’ chief executive Bryan Hughes — who will be part of a new six-strong global management team — said:
I am delighted that, with the creation of Eversheds Sutherland, that vision finally becomes a reality. Sutherland shares completely our approach to the creation of meaningful long term relationships with clients to deliver the very highest levels of service. We are very much looking forward to working together, collaborating as equal partners to create a new and powerful offering in the legal sector.
And perhaps the most important upshot of all (in Legal Cheek’s humble opinion anyway) is the new law firm merchandise.
— Wie-Men Ho (@EmpLawyerWMH) February 1, 2017
No doubt it will be coming to a law fair near you in 2017.
For all the latest commercial awareness info, and advance notification of Legal Cheek’s careers events, sign up to the Legal Cheek Hub here.