Two BigLaw firms announce merger; combined firm will have about a thousand lawyers
Arnold & Porter and Kaye Scholer plan to merge and change their name to Arnold & Porter Kaye Scholer.
The merger wil take place on Jan. 1, according to a press release and a story by the Am Law Daily (sub. req.). The new law firm will have about 1,000 lawyers in nine U.S. offices and four international offices, including about 400 lawyers in Washington, D.C., and 325 lawyers in New York.
Arnold & Porter chair Richard Alexander will be chair of the merged law firm. “The combination will allow us to stay true to the shared values of both firms,” he said in the press release. “We will be one of the world’s leading pro bono law firms, continue to maintain a collegial work environment and foster a consensus-based culture and an unyielding commitment to diversity and inclusiveness.”
Currently Arnold & Porter has more than 700 lawyers and Kaye Scholer has 375 lawyers. According to the Am Law Daily, “both firms emerged from 2015 in weakened financial positions compared with previous years.”
At Arnold & Porter, gross revenue fell 6.4 percent and profits per partner fell 12.6 percent. At Kaye Scholer, gross revenue fell 1.3 percent and profits per partner fell 2.1 percent.
