Law firms Berwin Leighton Paisner and Bryan Cave get the green light to merge creating a $900m revenue business
City law firm Berwin Leighton Paisner is to merge with US peer Bryan Cave, creating a firm with combined revenues of more than $900m (£645m).
The pair revealed they were in talks in October last year, saying that a deal would allow them to join the "handful" of firms operating with a one-firm structure globally.
In a vote today, the partners of both firms decided to give the merger the thumbs up.
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“Our combination is rooted in a shared determination to do something fresh and different for clients,” said BLP managing partner Lisa Mayhew, who will now lead the new firm as co-chair along with Bryan Cave's Therese Pritchard.
“Different to most other international firms, ours will be fully financially integrated from day one. This will enable us to work in teams whose only focus will be to provide a first class service to clients.”
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The new business, Bryan Cave Leighton Paisner, will have one of the world's most active mergers and acquisitions practices, the fourth largest real estate practice globally, an international financial services practice present in all of the world’s largest financial centres and an international litigation and corporate risk practice.
The firm will operate across 32 offices in 11 countries with a platform of around 16,000 lawyers.
It will also advise 38 per cent of the Fortune 500 list of the US's largest companies, and 30 of the world's top 50 banks by revenue.
BLP, which is based just off London Bridge, was slightly the smaller of the two firms, with revenue in the last financial year of £272m.
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