The Australian Lawyers Weekly reported yesterday
An Australian firm has responded to rumours that it plans to merge with a UK-based international, saying its current alliance model is better for business.
Speaking to Lawyers Weekly, Wotton + Kearney chief executive partner David Kearney said the Australian insurance firm has no intention whatsoever to merge with any other firm.
Wotton + Kearney recently joined forces with UK firm DAC Beachcroft, German firm BLD Bach Langheid Dallmayr and US firm Wilson Elser Moskowitz Edelman & Dicker to form the Legalign Global alliance.
The alliance allows the four firms to service international insurance clients such as Allianz, Chubb and Zurich, ensuring that they can provide aligned legal services across the insurers’ global operations.
“I can categorically say we’ve never had any merger discussions, and while one never closes their mind to any business opportunity, I think it’s very, very unlikely that Wotton + Kearney will be anything but Wotton + Kearney in the foreseeable future,” Mr Kearney said.
His comments came despite a trusted source telling Lawyers Weekly that Wotton + Kearney is engaged in merger talks with DAC Beachcroft, which could be a precursor to a four-way merger including BLD and Wilson Elser. According to the source, such an arrangement would give the firms greater power to challenge other globals.
However, Mr Kearney said the idea of a merger was discarded before the alliance was even formed.
