Perkins Coie and Ashurst are set to combine in a transatlantic merger that will create a top 20 global law firm, with revenue of $2.7bn and around 3,000 lawyers worldwide.
The deal, announced today (17 November), will see the two firms unite as Ashurst Perkins Coie, a firm that will have a focus on tech, energy & infrastructure and financial services.
The deal is expected to go to a partner vote next spring and, if successful, the merger will go live in the middle of next year.
Ashurst Perkins Coie will be jointly led by Perkins managing partner Bill Malley and Ashurst CEO Paul Jenkins (pictured) as global co-CEOs. Ashurst’s global chair Karen Davies of Ashurst and Perkins corporate co-chair Brian Eiting will be co-chairs of the combined firm.
Malley and Jenkins told Legal Business that the two firms had been speaking since February, with dozens of partners already involved in discussions. Assuming the deal is voted through by partners, the merged firm will be financially integrated and will operate with a single compensation system.
The merged firm’s geographic footprint will span 52 offices in 23 countries, with flagship hubs in Seattle, London, Sydney, and New York, and expertise in major financial centres including Brussels, Dubai, Frankfurt, Hong Kong, Paris, Seoul, Shenzhen, Singapore and Tokyo. The only locations where both firms already have offices are LA, Austin and New York in the US, London, where Perkins has a small office, and Beijing.
Malley said in a statement: ‘Ashurst complements our geographic reach and capabilities and shares our ambition to build a firm defined by ingenuity and collaboration. Together, we will combine resources and expertise to accelerate growth and set new standards for world-class legal service.’
Jenkins added: ‘Our ambition for many years has been to grow in the US with the right partner: a firm with deep, trusted expertise that complements our own. We have now found that partner – Perkins Coie is an ambitious, forward-thinking law firm meeting its clients at the forefront of technological change. At a time of rapid transformation and strategic complexity, we are excited by this unique opportunity to launch a truly differentiated global law firm for our clients and our people.’
Ashurst has long sought a US merger and has previously been linked with a host of US names since its talks with Latham & Watkins infamously ended in 2000. Legal Business reported in 2022 that the firm was once again on the hunt for a partner across the Atlantic, and other names that it has been linked with in the past include Sidley, Mayer Brown and White & Case, with more recent names touted including Sheppard Mullin and Nixon Peabody.
With Perkins, Ashurst has found a merger of equals. Ashurst reported revenue of $1.319bn for 2024-25, compared with Perkins’ $1.259bn, with profits per equity partner also relatively evenly matched at $1.8m for Ashurst and $1.9m at Perkins.
West Coast firm Perkins only opened in London in summer 2024 when it added former White & Case private equity partner Ian Bagshaw. According to its website it now has seven partners and around 10 other lawyers.
Looking at global headcount, Ashurst is roughly twice the size by lawyer count at 2,137 worldwide compared with Perkins’ 1,063. The firms share similar sized partnerships at around 500 per firm.
