Jersey giant Mourant has completed its merger with offshore rival Quin & Hampson, boosting the firm’s critical Cayman Islands presence.
As first revealed by The Lawyer (19 February), the completion of the merger comes after the firms initially signed heads of terms in February. The newly combined entity boasts some 160 lawyers across seven offices.
Mourant will now spend the next two months integrating its combined Cayman team, which now numbers 50, with a view to begin operating under the Mourant brand from 1 October 2007.
The merger is a dramatic split from Mourant’s usually conservative growth strategy. Until now, the firm, which reported a gross revenue of £25.2m in 2006, was the only ‘offshore magic circle’ firm not to have grown by merger.
Stephen Ball, CEO of Mourant’s legal arm Mourant du Feu & Jeune, said the Caymans was the foundation on which the firm planned to develop its US offering. Mourant made legal history when it became the first offshore law firm to launch in New York in April.
Ball retains his position as CEO, while Quin senior partner Charles Quin QC becomes head of the combined Cayman practice.