SJ Berwin and Asia Pacific powerhouse King & Wood Mallesons have voted to combine.
The pseudo-merger will complete on 1 November, when SJ Berwin's 165 partners and 346 lawyers will be subsumed into KWM to form a mammoth 30-office firm comprising over 2,700 lawyers and headquartered in Asia. SJ Berwin has agreed to take the name "King & Wood Mallesons SJ Berwin" on a temporary basis, with that old-fashioned SJ Berwin bit to be dropped in due course.
The arrangement is not a full merger because KWM operates as a Swiss Verein, meaning SJB will join as a financially independent branch of the firm alongside the existing Hong Kong, Chinese and Australian units. Each of the existing businesses could have vetoed the tie-up, and there were real concerns the Australians might do just that. Apparently the Aussies were a bit sniffy about SJB, and their Managing Partner resigned when the plans were first announced.
But the vote has passed. It comes at the cost of SJB's name, its autonomy and in time perhaps its culture too. However it may prove a shrewd move in the long run and SJB has certainly viewed a merger as the key to its future. It has tried and failed to merge three times in the last few years with US firms Mayer Brown, Proskauer and Orrick. A merger with the largest law firm in the Asia Pacific region gives it a valuable, and some would say much needed, international rebrand and some serious cross-selling opportunities.
SJB Managing Partner Rob Day optimistically described the deal as a "ground- breaking combination which offers our clients a level of coverage and quality which is simply different from other global law firms". So that's a big firm then with, err, "different" quality.
Tip Off ROF
The pseudo-merger will complete on 1 November, when SJ Berwin's 165 partners and 346 lawyers will be subsumed into KWM to form a mammoth 30-office firm comprising over 2,700 lawyers and headquartered in Asia. SJ Berwin has agreed to take the name "King & Wood Mallesons SJ Berwin" on a temporary basis, with that old-fashioned SJ Berwin bit to be dropped in due course.
Apparently SJB's proposal didn't appeal |
The arrangement is not a full merger because KWM operates as a Swiss Verein, meaning SJB will join as a financially independent branch of the firm alongside the existing Hong Kong, Chinese and Australian units. Each of the existing businesses could have vetoed the tie-up, and there were real concerns the Australians might do just that. Apparently the Aussies were a bit sniffy about SJB, and their Managing Partner resigned when the plans were first announced.
But the vote has passed. It comes at the cost of SJB's name, its autonomy and in time perhaps its culture too. However it may prove a shrewd move in the long run and SJB has certainly viewed a merger as the key to its future. It has tried and failed to merge three times in the last few years with US firms Mayer Brown, Proskauer and Orrick. A merger with the largest law firm in the Asia Pacific region gives it a valuable, and some would say much needed, international rebrand and some serious cross-selling opportunities.
SJB Managing Partner Rob Day optimistically described the deal as a "ground- breaking combination which offers our clients a level of coverage and quality which is simply different from other global law firms". So that's a big firm then with, err, "different" quality.
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Believe me, the loss of SJB's culture would be a great step forward in the development of civilisation and a blessing for lawyers everywhere.
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Not seeing the human problems at SJB is indicative of SJB's culture. They're in a bubble. Interesting to see what the Aussies will make of it all when they finally bed down together. But, I'd guess the Chinese will actually quite like the Asperger levels of empathy and sharp elbows.
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Bond Dickinson's merger is far too big for this mere website.
Pretty sure the BBC, Sky, Fox and the like all dedicated their rolling news channels to that historic day.
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