International firm Hogan Lovells and New York-based Cadwalader, Wickersham & Taft have capped a frantic year for law practice consolidation by announcing the largest firm combination in history. Hogan Lovells Cadwalader will unite Hogan Lovells with Wall Street’s oldest law firm, in a business with annual revenues of over $3.6 billion (£2.7bn). It will rank number five in the world by size.
The news comes days after the announcement of another major transatlantic tie-up, between Chicago-based Winston & Strawn and Taylor Wessing’s UK arm.
Hogan Lovells Cadwalader will have 3,100 lawyers working in every major financial market, the firms said. Clients are increasingly looking for law firms with deep sector expertise and broad global reach to advise on their most complex mandates around the world, said Miguel A. Zaldivar, Hogan Lovells chief executive. 'Cadwalader, a premier Wall Street institution, brings top of the market finance capabilities, which combined with Hogan Lovells’ powerful global platform, expands our abilities to comprehensively advise clients at a time when cross-border investment is increasingly driving growth in key sectors—including finance, energy, technology, life sciences, and others.'
Wes Mission, Cadwalader's co-managing partner, said the combination 'fulfills our shared ambition to create a global firm with a strong transatlantic platform anchored in the most important financial centres.'
Zaldivar will serve as chief executive of the combined firm. The proposed combination is subject to customary closing conditions, including a vote by the partners of each firm to be held in 2026.
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