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Herbert Smith Freehills to merge with Kramer Levin
Global law firm Herbert Smith Freehills, which has five offices Down Under, is set to merge with US-based firm Kramer Levin, creating a firm with more than 2,700 lawyers and over US$2 billion in revenue, and making it “the largest global law firm in Australia”, it said.
Jerome Doraisamy
One of the biggest firms in Australia, Herbert Smith Freehills, is set to form an integrated global legal powerhouse with Kramer Levin Naftalis & Frankel, a New York City-headquartered firm with over 300 lawyers.
The combined firm will have over 2,700 lawyers, including approximately 640 partners across 25 offices, and will boast over US$2 billion in revenue. This will place it among the top 20 largest law firms by headcount and one of the top 20 integrated firms by revenue in the world.
It will operate globally as Herbert Smith Freehills Kramer, with the abbreviation in the US to be HSF Kramer.
The new firm will also have a “single global profit pool from day one”.
In a statement, HSF proclaimed that the “transformative” combination will create a unique global law firm with leading disputes and transactional practices in the world’s key markets and that marrying its strength and scale across Asia, Australia, EMEA, and the UK with Kramer Levin’s premier offering in New York, Washington D.C., and Silicon Valley “will create one of the world’s leading global law firms”.
The proposed combination is subject to customary closing conditions, including a vote of the partnership of each firm.
The news follows the completion of the merger between Allen & Overy and Shearman & Sterling earlier this year to create what the combined entity called the “first fully integrated global elite law firm”.
Rebecca Maslen-Stannage (pictured), who is the chair and senior partner of HSF, 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.”
Kristin Stammer, the executive partner for HSF in Australia and Asia, said: “Our firm’s global strength, including our US presence, will be unmatched among our key Australian competitors. This gives us the global platform to ensure we can deliver our clients’ needs and attract the best talent to our firm.“
“With this announcement, we will be the largest global law firm in Australia, the largest global law firm in the Asia-Pacific and among the top 20 largest law firms in the world. This gives us an exceptional platform and the depth to continue providing innovative solutions for our clients and exciting opportunities for our people.”
HSF global chief executive Justin D’Agostino (also pictured) 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.”
Kramer Levin co-managing partner Howard T. Spilko said: “Joining forces with HSF 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.”
Spilko’s co-managing partner, 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 news follows HSF’s promotion of two of its partners to energy leads earlier this month, the addition of two partners from BigLaw rivals in October, its appointment of new dispute resolution heads in late August, its naming of 62 new senior associates back in June, 10 new executive counsel in late April, its promotion of nine to its partnership in the same month, its appointment of an Australian as joint managing partner of its global corporate practice in February, and its promotion of four within its alternative legal services practice in January.
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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