Warner Cranston deals Pinsent Curtis a blow with US deal
London firm Warner Cranston is planning a January wedding with US practice Reed Smith, which is ten times its size.The marriage will come as a blow to Pinsent Curtis, which is in a US/Europe law firm network with the Pittsburgh-headquartered firm.
It is thought the network may bedisintegrating as members make independent moves such as this.Warner Cranston's 14 equity partners will become partners at Reed Smith and senior partner Ian Fagelson will become a member of its executive committee.
However, the firms will remain technically separate: ReedSmithWarnerCranston in the UK and Reed Smith elsewhere.
The head of Reed Smith's business and finance practice, Thomas Todd, will move to London next month to oversee the integration.Warner Cranston's announcement comes more than a year after the collapse of its merger talks with Chicago-based Sonnenscheins.
The 60-lawyer firm began talking to the 600-lawyer, 12-office Reed Smith towards the end of last year.
Warner Cranston has featured on the list of many US firms seeking to set up in London.
In the past, the firm has targeted US referral work, but began looking for a closer link when many US firms decided to open offices in London.
More than half Warner Cranston's clients are based outside the UK.'The number of firms in the UK that would be sensible targets are quite limited,' commented Ian Coles, London managing partner of US firm Mayer Brown & Platt.Warner Cranston practice development partner Peter Alfandary said the two firms have complementary practices and cultures.The Warners link-up is Reed Smith's first serious push outside the US.
Warners is expected to lead a further drive into Europe.
Managing partner Greg Jordan said the network it was in with Pinsent Curtis was 'shifting'.Julian Tonks, Pinsent Curtis's senior partner, wished Reed Smith well with the move.
'We've been aware for some time that Reed Smith was looking for a closer link in England.'Anne Mizzi
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