International firm Norton Rose has announced a merger deal with a US practice that will cement its place in the top 10 global firms.
The firm will combine with Fulbright & Jaworski on 1 June, 2013 to form Norton Rose Fulbright.
The new practice will have 3,800 lawyers and be in the top 10 internationally by gross revenues and fee-earners. It will have 55 offices internationally, including 11 in the US, where it will have nearly 800 lawyers. The operation will stretch across much of Europe, East Asia and the Middle East.
Peter Martyr (pictured), Norton Rose’s chief executive, said: ‘The US legal market is the largest in the world and our combination will create a truly global practice with significant depth of expertise in the world’s principal business and financial centres.
‘We have been looking at the US market for a number of years, seeking a firm that meets our requirements for excellence in law, good business synergies and a compatible culture.
‘Fulbright & Jaworski meets all our criteria; it is financially strong, with forward-looking management and similar strategic growth aspirations.’
He added that the new firm would expect to extend its global business not only in the US but in the emerging markets of Latin America, Africa and Asia.
By industry sector, Norton Rose Fulbright will occupy a market leading position in the areas of energy; pharmaceuticals and life sciences (including healthcare); financial institutions; infrastructure, mining and commodities; technology and transport.
Martyr will be global chief executive of Norton Rose Fulbright, with Ken Stewart, chair-elect of Fulbright, serving as managing partner of the US operations. Other Fulbright partners will also sit on the global executive committee.
The merger is the latest attempt by a leading firm to bolster its size, following on from Herbert Smith’s merger with Australian firm Freehills in October.