Let your next career move come to you.

CMS, Nabarro and Olswang in three-way merger talks
CMS, Nabarro and Olswang are understood to be voting on a three-way merger today.

According to The Lawyer (paywall) Olswang and CMS are holding partnership meetings on Friday to discuss the merger, which would create a practice of approximately 3,000 lawyers and £950 million of revenues (if CMS' odd global network is included in the calculations).

Olswang has previously rebuffed a merger request from CMS, but after a torrid couple of years the media boutique is now keen (read: desperate) to cling to anything, even another rock. Its CEO was taken out mobster-style last year after the firm's rapid overseas expansion went down like a lead balloon, then its entire German office quit and in recent months there's been a partner exodus. Plus it has retained dismally low numbers of trainees and 2105/16 turnover dropped 11% by £14.2 million to £112.5 million. Earlier this year Olswangers told RollOnFriday "morale is low" and said that thanks to "confused" management there "doesn't appear to be a clear plan for the future".

    Just a suggestion

But apparently now there is a plan. In recent days rumours have swirled of a tie-up with Nabarro, and this week inside sources told RollOnFriday that CMS, the firm with 60 offices in 30 countries yet, impressively, almost zero name recognition, is making it a threesome. CMS last merged in 2014, with Scottish firm Dundas & Wilson and has since shrunk the combined firms' annual 80 trainee places to 60.

Nabarro has performed steadily but has been keen to merge for years, approaching Addleshaw Goddard in 2013. Its addition would add considerable real estate experience to the mix, creating a firm with particularly strong media, property and whatever-CMS-does bona fides. 

None of the firms' PR teams responded to requests for comment because officially none of this is happening. So act dumb when they unveil a spanking sign for CMS Nabawang (please please please) next week.
 
Tip Off ROF

Comments

Anonymous 30 September 16 06:39

Next week, in the brace new world of 2105, when we will all understand what Brexit actually meant.

Anonymous 30 September 16 10:24

How dare you suggest that THE Senior Partner is mediocre! She is a titan in her own mind!

Anonymous 30 September 16 14:23

Don't know for CMS but the management at Olswang was inept and... dysfunctional before they gave the sack to their CEO, and is now totally incompetent. They need to dissolve themselves into something bigger. This will come as a relief.

Anonymous 30 September 16 18:12

nabarro doesn't have great morale. associates continually being looked over for promotion and any number of 'climate' type excuses for lack of any kind of decent payrise. brexit was a perfect one this year. hopefully the redundancy packages that come with any merger will be decent. hahahaha.

Anonymous 30 September 16 21:06

Those are pretty much the same reasons CMS gave for no bonuses and a miserly payrise this year as well!

These guys must have been delighted when they found each other. Are law-firm mergers now so common there's a Tinder style app maybe?

Anonymous 04 October 16 11:50

Don't forget that as well as being The Senior Partner, she is also Chairman of the UK Board, Head of Energy and Mother of Dragons. All bow before The Mighty One!

Anonymous 04 October 16 16:16

Who on earth is this person? I can't say I remember the names of any senior people at CMS.

Anonymous 05 October 16 20:01

Anyone else notice the curious link between firms going open plan and diving profitability? Olswang goes open plan in 2015 - suddenly profits tumble. CMS goes open plan in 2015 and despite mergers, revenue and profit does not grow proportionately. Nabarro goes open plan and its growth in turnover slows to 3.5% from 8% year on year. Go open plan - cement your place in mid-market mediocrity!