It’s been a long time on the back burner but finally Eversheds has given the green light to its potentially transformative plans to seek a US merger partner.
Three years ago the firm formed a US strategy group. Two years ago it launched its 2020 Vision strategy, which made building a global platform a priority. Now chief executive Bryan Hughes has confirmed that this year, at its June partners’ conference, the specific plan of tying up with a US firm received overwhelming support from its senior lawyers.
Hughes told The Lawyer today that he has “started looking at the market in earnest”. Clearly things look to be accelerating at Eversheds, but it hasn’t taken anything like as long for the comments on thelawyer.com to start flowing, with one already suggesting potential merger partners: “How about: Bryan Cave, Drinker Biddle, Foley & Lardner, Holland & Knight, Hunton & Williams, Locke Lord (Edwards), McGuireWoods…”
Don’t miss our associated Behind The Law article for all the background to the vote and Eversheds’ decision to hunt out an American marriage.
Also on TheLawyer.com:
- The liquidators of Gibraltar firm Marrache & Co are suing the local branch of accountancy firm Baker Tilly
- Addleshaw Goddard’s turnover for the first half of 2014/15 was up 11 per cent
- Not-for-profit legal group ClientEarth has won a ruling at Europe’s highest court
- JP Morgan Chase has launched its latest panel review, having warned firms they will have to cut rates by at least 2 per cent to qualify