Partners at national firm Hammonds and US firm Squire Sanders & Dempsey have approved a merger of the firms, creating a 1,275-lawyer transatlantic practice with $625m (£387m) in combined revenues.

The new firm, which will span 17 countries and 37 offices, will be named Squire Sanders & Dempsey. Where Hammonds has a strong presence, the new firm will be known as Squire Sanders Hammonds.

When the merger takes effect on 1 January, Squire Sanders chair James Maiwurm will become global chief executive officer and chair, while Hammonds managing partner Peter Crossley will become managing partner for Europe.

A Hammonds spokeswoman said today that redundancies are not anticipated as the firms merge. ‘The merger is all about achieving and driving growth into the business,’ she said.

The new firm will be structured as a Swiss verein and governed by a 13-person global board, elected by partners. Managing partners for the Americas and Asia-Pacific regions will be appointed.

In a statement, the firms said that the combined practice ‘anticipates additional growth’ in key financial markets, including New York and London. The statement said that the new firm expects to add to its Paris office and expand its presence in Germany, and expand in emerging growth regions in Asia and Latin America.

Crossley (pictured left with Maiwurm) said: ‘Clients currently working with lawyers from both legacy firms are enthusiastic about the combination’s expanded practice expertise, industry knowledge, regional strength and global reach. We are delighted to report that clients’ reactions reflect what we concluded after we began discussions with Squire Sanders. Simply put, we are better together.’

Maiwurm said: ‘The pace of the business world is accelerating. Clients expect their law firms to embrace change and seize opportunity even in a challenging business climate. We hear our clients and know they consider cost-effective global counsel the norm, not the exception. The combination of our firms is designed for the times and positioned for the future. We will continue to seek bold solutions for clients wherever their business takes them, and we will do this in a collaborative fashion that makes us both an inviting place to work and a great choice for clients.’

The merger of the firms marks the third major transatlantic tie-up since May, when City firm Lovells and US firm Hogan & Hartson merged to created Hogan Lovells. City firm Denton Wilde Sapte and US firm Sonnenschein Nath & Rosenthal merged in September to create SNR Denton.

Squire Sanders has lawyers in 32 offices across 15 countries. Hammonds employs lawyers in 10 offices across six countries. Hammonds was founded in 1887 and Squire Sanders in 1890.