Hammonds goes global with US deal
The merger between Birmingham law firm Hammonds and US-based firm Squire, Sanders & Dempsey will create a global top-tier legal practice, but one which still offers a bespoke local service. That's according to managing partner Peter Crossley, who told Insider the deal meant the firm's clients would be able to able to call on a "whole new armoury".
Effective from 1 January 2011, the enlarged business, which expects to be among the top 25 global legal practices, will boast approximately 1,275 lawyers in 37 offices and 17 countries. Hammonds currently has UK offices in Birmingham, Leeds, Manchester and London.
Despite the global focus which fuelled the merger, Crossley insisted the firm's Midlands clients would not be neglected.
"We intend to still concentrate on providing a bespoke local service to local businesses and that will continue," he said.
"If you, the client in Birmingham, Manchester or Leeds, have a lawyer or group of lawyers doing your work that will continue. Those lawyers, they haven't changed they're still the same. But what they are able to offer you is a whole new armoury to assist you if you ever needed it in another part of the world.
"In one sense it's business as usual, but with the additional component of what we can now offer you in terms of broader practice expertise. And practising in a greater number of markets where you might do business."
When considering its expansion strategy, globalisation was key for the Hammonds partners, as Crossley explained.
"There are an increasing number of larger clients who want to reduce the number of law firms on their panels and want to form global law firm panels. If you don't have the coverage you don't even get invited onto the pitch.
He added: "It's about transforming our firm into a truly global law firm practice and being able to provide greater critical mass, practice expertise, industry expertise and having a greater geographic reach."
Crossley hopes in 12 months that the firm, which will be known as Squire Sanders Hammonds at its pre-existing Hammonds locations, will be achieving the goals discussed as the deal was progressing.
"The motivating feature of our proposed merger is all about increased work opportunities for our existing clients and indeed our new clients.
"What I would like to have seen within a year is we have brought to fruition and converted many of those opportunities we have spent many, many hours talking about."
Although clients were consulted to some degree when negotiations were ongoing, that process will be stepped up now.
"The real work starts today," said Crossley, "going out to our clients and explaining to them what this potentially means."
Squire Sanders chair James J Maiwurm will be global chief executive officer and chairman. Hammonds managing partner Peter Crossley will be managing partner for Europe.
