Big Law just got bigger
Hogan Lovells and Cadwalader, Wickersham & Taft have announced plans to combine in a deal that would create the largest law firm combination in history and one of the biggest players in the global legal market.
The proposed merger, announced today, would see the firms come together as Hogan Lovells Cadwalader, with combined annual revenue in excess of $3.6 billion (£2.7 billion). The new firm would employ around 3,100 lawyers across the Americas, EMEA and Asia-Pacific, making it the world’s fifth largest law firm by revenue.
It comes just days after Taylor Wessing’s UK arm confirmed reports of plans to merge with US firm Winston & Strawn, forming a new transatlantic giant, Winston Taylor. This follows closely on the heels of Ashurst’s announcement that it was joining forces with US firm Perkins Coie.
Hogan Lovells and Cadwalader said the proposed combination — subject to a partner vote — would be balanced across major legal markets on both sides of the Atlantic, with a particular focus on strengthening the “New York–London corridor”. In London, the merged firm would rank among the top 10 by size, with close to 600 lawyers.
The Legal Cheek Firms Most List shows Hogan Lovells is the bigger firm by some distance with 35 offices and an annual trainee intake in London of around 50. By comparison, Cadwalader has just five and recruits only a few rookies each year.
Hogan Lovells CEO Miguel A. Zaldivar, Jr said:
“Clients are increasingly looking for law firms with deep sector expertise and broad global reach to advise on their most complex mandates around the world. Cadwalader, a premier Wall Street institution, brings top of the market finance capabilities, which combined with Hogan Lovells’ powerful global platform, expands our abilities to comprehensively advise clients at a time when cross-border investment is increasingly driving growth in key sectors — including finance, energy, technology, life sciences, and others.”