The new firm will be known as Norton Rose Fulbright, and be counted among the world’s top 10 law firms by both headcount and revenues. The two firms have had a so called best friends alliance for around 10 years, and together should bring in revenues close to $1.9bn, with a combined headcount of 3,800 lawyers across 55 offices.
Speaking from New York, Norton Rose chief executive Peter Martyr – who will be global CEO of the enlarged firm – said the tie-up had been under discussion for a while. “You can’t be a global law firm without a real US presence,” he told City A.M. “Fulbright is a great fit in terms of both business and cultural compatibility”.
Norton Rose partners voted on the tie-up at the firm’s annual meeting in Toronto earlier this month, with the Fulbright partnership giving the deal the nod at a vote in Houston last week. Fulbright’s chair elect Kenneth Stewart will lead the US operations, and join the firm’s executive committee.
“This is good news for London too,” said Martyr. “We’re plugging into a bigger network that will give the office access to new international work.”