Subject to partner vote
Herbert Smith Freehills is set to merge with the US law firm Kramer Levin Naftalis & Frankel, forming a new transatlantic giant with over 2,700 lawyers and revenues exceeding £1.5 billion.
The new legal player will be called Herbert Smith Freehills Kramer, or simply HSF Kramer in the US, and will have 25 offices globally.
Kramer Levin is the smaller of the two firms, with just three offices across the US in New York, Silicon Valley, and Washington, DC, along with one international hub in Paris.
The merger, still subject to partner approval, will result in the new firm operating under a unified profit pool.
Rebecca Maslen-Stannage, HSF chair and senior partner, 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.”
Howard T. Spilko, co-managing partner of Kramer Levin, 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.”
He continued: “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.”
Earlier this year Allen & Overy and US outfit Shearman & Sterling officially joined forces to create A&O Shearman, a new transatlantic Magic Circle giant with revenues of £2.9 billion.
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