In many ways the tie-up seems too good to be true. The newly-weds have roughly similar revenues, practice specialisms, and ambitions. Even their names fit together without too many spare parts rattling about – Charles Russell Speechlys has a distinguished ring to it (even if we find that extra ‘s’ a little odd).
But every merger has its fair share of hurdles to overcome. The newly-merged firm’s managing partner James Carter tells The Lawyer today that management has opted to delay some of the trickier integration issues while Charles Russell Speechlys settles into its new identity.
The IT and accountancy systems won’t be reconciled until March 2014, remuneration structures are due to be integrated in May 2016, and it could take more than two years to find a suitable office to house the pair’s 930-odd staff.
Nevertheless, the merger is good news for associates, as the firm has improved its training regime during the course of the merger. And as the new firm switches to legacy Charles Russell’s career progression path, it looks like some legacy Speechlys associates may even be in for a marginal pay-rise.
The champagne’s on Speechly, then.
Also on TheLawyer.com:
- Eversheds’ former London head Cornelius Medvei has picked up an advisory general counsel role at department store chain Fenwick
- The parent of Malaysian law firm network Zicolaw is seeking to raise $14.4m on the Singapore Stock Exchange to fund its Asian expansion
- Latham & Watkins has made up just one new partner in London, alongside another 18 new partners worldwide
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