A planned merger between London-founded Allen & Overy and New York-founded Shearman & Sterling would be one of the biggest law firm tie-ups in decades, if approved, creating a 3,900-lawyer firm with a combined $3.4 billion in revenue.
But the news is not enough to spark a major wave of supersized law firm combinations, industry experts said, even as merger activity seems to have accelerated with the passing of the pandemic. Read on to find out why large transatlantic mergers have been rare.
More from the legal industry …
California took a step forward to develop its own bar exam. Also, despite resistance from Democratic Senator Joe Manchin, the Senate confirmed President Joe Biden’s pick for the 11th Circuit. Former New Hampshire Attorney General Michael Delaney asked for the withdrawal of his nomination to the 1st Circuit amid opposition from both Democrats and Republicans. The State Bar of California voted for a new ethics rule mandating that lawyers report professional misconduct by fellow attorneys. McKool Smith’s co-founder Mike McKool left the national trial law firm to represent an unnamed new client. The FDA was sued by a lawyer to block it from disclosing the attorney’s identity in a public report. Irma Carrillo Ramirez was nominated by Biden for the 5th Circuit after Texas’ two Republican senators recommended her for the post. Tim Parlatore, who represented former president Donald Trump in a pair of DOJ investigations, left his legal team.
Moves:
In Washington, D.C. …
Crowell & Moring brought on a new co-chair for its tax practice group from Hogan Lovells.
In New York …
Paul Hastings added three finance partners from Cahill. Davis Polk hired two corporate partners away from Latham. Katten named an investment management and funds attorney as the new managing partner for its New York office, effective June 1.
In Houston …
Gibson Dunn brought on a Kirkland deal maker to lead its oil and gas group.
In Charlotte …
Seyfarth’s labor and employment practice added a new partner.
In Georgia …
Bradley Arant launched an Atlanta office with more than 20 lawyers.
In London …
Quinn Emanuel is launching an intellectual property practice in the city with the hire of a partner from Pinsent Masons.
And finally …
Five lawyers are leaving Shearman & Sterling to join UK rival Ashurst as partners in London, Seoul and Singapore.