Two major law firms specialising in insurance, Locke Lord and Edwards Wildman Palmer, are set to merge after signing a letter of intent.
If the merger is approved, the combined firm Locke Lord Edwards would have more than 1,000 lawyers in 23 cities around the globe.
In a joint statement, the two firms said that, if approved, the combination would occur in early 2015. Locke Lord’s chair, Jerry Clements, would serve as chair of the new firm which is expected to have gross revenues of approximately $675 million. This would place it among the top 50 US law firms listed in The American Lawyer’s annual AmLaw 100 rankings.
Clements said: “We are excited about the possibilities of a combination that would tie together two strong firms with excellent reputations and a focus on providing clients with a broad range of legal services to meet their increasingly complex needs around the globe.
“Our two firms share many similarities – exceptional and well-respected lawyers; a wide geographical footprint in the United States and abroad; and highly regarded practices, including energy, private equity, insurance and reinsurance, intellectual property, litigation, real estate, health care, technology and finance. We will spend the next few months working on details and introductions, and hopefully be able to move forward together in a way that offers increasing breadth and depth to our clients. Both firms have been through a number of successful combinations, but we think this one opens the door for something truly transformational.”
Edwards Wildman Palmer’s managing partner, Alan Levin, who would serve as one of the vice chairs in the new firm, added: “Our firms complement each other very well, and the newly combined firm will put us in a better position to offer solid experience across a broader range of practices and industries from offices located throughout the United States, Europe and Asia,” added Levin, who would serve as one of the Vice Chairs in the new firm. “It was critical that we find a firm similar to us not only in its commitment to client service, but also in culture and vision, as well as a shared commitment to diversity and community involvement. Locke Lord has all of those attributes, and more.”
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