I remember the days of just Freehills.. i’m getting very old!
Australian-British Herbert Smith Freehills (HSF) is set to merge with US law firm Kramer Levin to create a £1.6bn “global legal powerhouse”.
HSF was formed in 2012 when the Australian law firm Freehills merged with Herbert Smith, a British firm based in London. Headquartered in Sydney and London, the firm’s strategy focuses on Asia, Australia, EMEA, and the UK.
While Kramer Levin is a New York-based law firm with offices in Silicon Valley Washington DC and Paris, France.
HSF revealed in July its turnover rose by over 10 per cent to hit £1.3bn. Its profit jumped 14.5 per cent in FY24 hitting £444.5m, while profit per equity partner (PEP) jumped over 12 per cent to £1.3bn.
While Kramer Levin reported earlier this year its gross revenue rose by over 3 per cent to $435.2m (£338m). Its PEP rose by 1.2 per cent to $2.41m, but its equity pool was short of three partners.
The firm will be known as Herbert Smith Freehills Kramer, with the vision to “accelerate growth in the US” across sectors HSF is forced on.
The planned combination will have over 2,700 lawyers including around 640 partners across 25 offices globally, and will be in the top 20 largest law firms by headcount. Additionally, with a combined £1.6bn in revenue, it will be one of the top 20 in the world.