US/UK merger creates global power in shape of Mayer Brown Rowe & Maw

City firm Rowe & Maw and US giant Mayer Brown & Platt are to merge and form what is being touted as the tenth largest law firm in the world.The new firm, which will trade as Mayer Brown Rowe & Maw, will have 400 partners - of whom 80 are from the City practice - a projected annual revenue in excess of $650 million and 13 offices worldwide.Unlike other US/UK mergers where the US firm is the dominant partner - such as Steptoe & Johnson/Rakisons, and Reed Smith/ Warner Cranston - Rowe & Maw has been able to keep its name in the firm's official title outside of the UK.Rowe & Maw's senior partner, Stuart James - London senior partner of the new firm - said: 'We identified that Mayer Brown could help us fulfil three needs - to have a strong finance practice and to establish a presence in the US and Germany.

Likewise, they didn't have the desired critical mass in London and saw us as a way of achieving it.'US lawyer Tyrone Fahner is the new firm's chairman, while Rowe's head of corporate, Paul Maher, retains his role.Mr James said Mayer Brown was put in touch with Rowe & Maw through a mutual client and after early discussions both firms 'liked what they saw in the chemistry'.He continued 'The move was necessary to accommodate our clients' needs.

We needed to service their work abroad in the major financial centres of the world and Mayer Brown's truly international presence will enable us to do just that.'Mr James said he expected US lawyers from Mayer Brown's London office to move to Rowe & Maw's City base in the next few weeks.

'In time there will be total cross-fertilisation, with our lawyers moving to their overseas offices as well,' he added.The two firms held preliminary discussions in spring 2001, before partnership votes approved the action over the weekend.

The combination - not technically a merger because of tax liability reasons and Mayer's LLP status - is effective from 1 February.Andrew Towler