Lovells and USrival to push on with merger
LONDON law firm Lovells and US rival Hogan & Hartson yesterday said they had received unanimous support from management of both firms to combine their partnerships.
Management at Hogan & Hartson and Lovells will now make recommendations to their respective partnerships to go forward with the proposed merger of equals. A merger between the two companies will create one of the world’s largest law firms with more than 2,500 attorneys and revenues of around £1.5bn.
The effective date of the merger is expected to be 1 May 2010, subject to partnership approval. A merger will shake-up practices at both firms: US firms traditionally reward partners for how much work they bring in- whereas UK firms are traditionally hierarchical.
Chairman of Hogan & Hartson J Warren Gorrell Jr said: “This would be the first transatlantic merger of two top 30 global law firms, creating a unique global firm covering the US and other international markets.”
Lovells managing partner David Harris said: “The strong similarities in the fundamental values of each firm, combined with the powerful business rationale for the merger, are a compelling proposition.”