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Overnight (Friday 4 April), Herbert Smith Freehills and Kramer Levin – a New York City-headquartered firm with more than 300 lawyers – confirmed that their respective partnerships have voted “overwhelmingly” to combine, thus creating a fully-integrated global law firm.
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The new combined entity, which was first unveiled back in November, will be known as Herbert Smith Freehills Kramer. At the time of announcement, HSF said the proposed entity would be “the largest global law firm in Australia”.
Completion of the combination is expected by 1 June 2025.
Herbert Smith Freehills Kramer, the firms noted in a statement, will be “transformational”, becoming a top 20 firm globally, with approximately 2,700 lawyers, including circa 630 partners across 26 offices, and more than US$2 billion in revenue.
This revenue, the firms said last year, will be underpinned by a single profit pool from the commencement of the new entity.
Moreover, it will be “the first truly transatlantic and transpacific law firm combination”, the firms said.
HSF global chief executive Justin D’Agostino (pictured) called the outcome a “major milstone” for the firms.
“HSF Kramer’s combined offering, global reach and scale means we will be able to deliver more effectively for our clients, whose needs are evolving rapidly in a complex environment,” he said.
HSF chair and senior partner Rebecca Maslen-Stannage (also pictured) said the combination is a “historic and long-term commitment from both firms to pursue our future together as one combined firm, and this is just the beginning”.
“We are excited about our shared vision and will build on our strong foundations around the globe,” she said.
The co-managing partners of Kramer Levin, Paul H. Schoeman and Howard T. Spilko, said that joining forces with HSF “is a unique opportunity that enables us to achieve our shared vision and potential for strategic growth in the US. This is a significant achievement for our combined firm”.
Down Under, HSF executive partner in Australia and Asia Kristin Stammer said: “This is an exciting next stage for our firm and gives us the expanded platform in the key US market to provide exceptional results for our clients and exciting opportunities for our people.”
The “combined local and global bench strength”, she noted, will be “unmatched by our competitors in Australia”.
Maslen-Stannage went on: “Many of our clients already have a US footprint or have growth ambitions in the US. The combined firm HSF Kramer gives us the global platform to deliver our clients’ US needs and attract the best people to our firm.”
“We have already had considerable interest around US disputes and class actions capabilities, corporate restructuring, in-bound and out-bound M&A, financing and various tech intersections,” she said.
“As we have been working more closely with Kramer Levin since the proposed combination was announced, their focus on exceptional client service and strong high performing culture has really resonated with us. We already have plans to grow further in the US together to deliver for our clients,” Maslen-Stannage concluded.
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