Herbert Smith Freehills and Kramer Levin announce merger to expand global reach
Law firms Herbert Smith Freehills and Kramer Levin have announced to combine, forming a fully-integrated global law firm called Herbert Smith Freehills Kramer.
As per a press release, the merger will create one of the top 20 law firms globally, with over US$2 billion in combined revenue and a team of over 2,700 lawyers, including approximately 640 partners across 25 offices.
The new firm will leverage Herbert Smith Freehills' presence in the UK, Asia-Pacific, and EMEA regions, combined with Kramer Levin's reputation in the US, particularly in New York, Washington DC, and Silicon Valley.
Herbert Smith Freehills Kramer will operate with a single global profit pool from day one, focusing on sectors where both firms have strengths - including energy, financial services, infrastructure, technology and mining.
Key practice areas for the combined firm will include private capital, M&A, restructuring, securitisation, real estate, white-collar corporate crime and investigations, class actions, intellectual property and arbitration.
Speaking on the merger, Chair and Senior Partner of Herbert Smith Freehills Rebecca Maslen-Stannage said,
"This is transformational. We have long been committed to expanding our offering in the US and Kramer Levin is the perfect fit. The combination delivers immediate growth for both firms from day one."
Global CEO Justin D'Agostino said,
"This is an excellent long-term, strategic move for our firms, our clients and our people – a bold opportunity to build an exciting international firm together, based on our strong cultures of collaboration, superb clients and people, and our existing areas of strength. This is just the beginning."
Co-managing Partner of Kramer Levin Howard T Spilko added,
“Joining forces with Herbert Smith Freehills is a one-of-a-kind opportunity that helps us achieve our vision and potential for strategic growth. The combination provides us with a significant competitive advantage by bolstering our destination practices with a deeper bench, broader geographic reach and sector expertise, while providing the opportunity to collaborate to achieve great outcomes for clients internationally.”
Co-managing Partner of Kramer Levin Paul H Schoeman, said:
“We are very much aligned culturally and share critical core values, particularly a belief that a collaborative approach is the key to providing best-in-class solutions and service to our clients. We also have the same deeply rooted commitment to diversity and inclusion, pro bono work, and community service.”
The proposed combination is subject to customary closing conditions, including a vote of the Partners of each of the respective firms.