Herbert Smith merger with Aussie law firm

Partners at Herbert Smith, the 130-year-old City law firm, have voted in favour of merging with Australia’s Freehills in a deal that will create the world’s eighth-biggest group by number of lawyers.

Herbert Smith is currently one of the “silver circle” of firms that sit below the five-strong “magic circle” of most prestigious practices, which include Linklaters and Slaughter & May.

However, the deal will give it the financial clout to challenge that elite group.

The launch of Herbert Smith Freehills is expected to be made official in October, when a single profit pool for the 2800 lawyers, including

460 partners, will be established. The companies claim that it will be the largest “fully-integrated” legal firm in the Asia-Pacific region, with particular strength in disputes and mergers & acquisitions.

Herbert Smith managing partner David Willis, who will be joint chief executive of the new venture with his Freehills counterpart Gavin Bell, said: “We share with Freehills a strong belief that over the next few years that the market for premium legal services will become increasingly dominated by a small number of truly global firms.

“This merger will therefore put us in a strong position to provide clients with the single global offering they increasingly demand.”