Dallas-bred Locke Lord and Boston’s Edwards Wildman Palmer have rubber-stamped their high-profile union, today (1 December) announcing that their respective partnerships have approved a combination from 10 January 2015, a move which will generate gross revenues of $675m and a headcount of 1,000 lawyers.
Pharmaceutical giant GlaxoSmithKline (GSK) is the latest to dip into the dwindling partnership at Edwards Wildman Palmer’s London office as it has emerged that commercial litigation partner, Antonio Suarez-Martinez, is leaving the firm for the corporate’s legal team.
Fellow US firm Cooley plans London office takeover
Dallas-bred Locke Lord and Boston’s Edwards Wildman Palmer became the latest US duo to announce plans to merge last month, as consolidation continues in the US national market. The news emerges as California firm Cooley prepares to launch in London, potentially taking on a major proportion of Edwards Wildman’s City team in the process.
The run of consolidation in the US national market continues with Dallas-bred Locke Lord and Boston’s Edwards Wildman this week announcing plans to merge, forming a $675m practice that would sit just outside the top 50 of the Global 100.
Having endured a difficult time in recent months with an exodus of partners from its London office, US law firm Edwards Wildman Palmer published its UK limited liability partnership (LLP) accounts in August, which recorded a 10% drop in UK turnover, alongside a 21% drop in profit.
The LLP accounts, dated to 31 December 2013, show revenue fell to £25.1m from £27.8m, operating profit decreased to £8m from £10.1m and net debt rose to £323,827 from £54,952.
Having endured a difficult time in recent months with the exodus of multiple partners from its London office, US firm Edwards Wildman has also seen financial challenges in the UK as evidenced by its latest LLP accounts which recorded a 10% drop in turnover to £25.1m from £27.8m, alongside a 21% drop in profit available for discretionary division among members to £7.6m.
Edwards Wildman sees final corporate partner exit for Olswang as Arnold & Porter emerges as ‘in talks’ with disputes team
US firm Edwards Wildman has seen the last of its quintet of disgruntled corporate partners resign as it has emerged that Niall McAlister has departed for Olswang. Continue reading “Edwards Wildman sees final corporate partner exit for Olswang as Arnold & Porter emerges as ‘in talks’ with disputes team”
RPC is in talks with a potential breakaway group of Edwards Wildman Palmer City partners – made up of corporate partners Niall McAlister, Eero Rautalahti, Stuart Blythe, and insurance and reinsurance partner David Kendall – alongside California-headquartered Cooley and top-60 Global 100 US firm Foley & Lardner.
The formerly five-strong splinter group is down to four after Shawn Atkinson, who served as co-chair of Edwards Wildman’s venture capital group, resigned in June to go to Orrick, Herrington & Sutcliffe.
The fallout from the embattled City office of US firm Edwards Wildman continues as it emerges that corporate partners Eero Rautalahti and Stuart Blythe have resigned, with Blythe set to join CMS Cameron McKenna. It was not known at the time of going to press where Rautalahti is headed. Continue reading “Further Edwards Wildman City fallout as CMS set to take on corporate partner”