- Legal Office
- San Francisco-based Orrick and Washington, DC-based Buckley are integrated
- The merger adds to a growing number of 2023 mergers between the two major law firms.
(Reuters) – U.S. law firms Orrick, Herrington & Sutcliffe and Buckley plan to merge in a deal they expect to close by the end of the month, the firms said on Thursday.
The merger will create 1,150 attorney offices, adding approximately 100 attorneys from Washington, DC-based Buckley to San Francisco-based Orrick’s position.
According to the company, the transaction creates a “financial service with the power of fintech rules” and addresses the needs of companies and financial institutions for regulation and enforcement advice.
“Our financial and technology products are evolving in an environment of increased regulation and increasing uncertainty – this is one of their number one business risks,” said Orrick chairman Mitch Zuklie in a statement.
“As these groups come together, the combined company will provide regulatory and sector clarity to these entrepreneurs and their businesses. they need to look at regulatory angles in pursuing their plans,” Zuklie said.
Orrick, among the top 50 U.S. law firms by revenue, earned more than $1.3 billion in 2021, while Buckley earned $148.5 million, according to the reported figures. from the American Lawyer.
The combined company, under the Orrick name, will advise consumer banks, more than 700 fintech players, funds, more than 4,000 emerging companies and large technology companies, the companies said.
Orrick will gain a Chicago office through the deal. The merger will also help grow more Orrick outposts, including in Washington, where there will be 180 lawyers, the companies said.
The merger adds to the growing list of major law firms merging in 2023, after the announcements were made in between. Holland & Knight and Waller Lansden Dortch & Davisand between Maynard Cooper & Gale and Nexsen Pruet at the beginning of this month.
Hogan Lovells and New York-based Shearman & Sterling revealed reports at the end of December that the companies are at the beginning of joint discussions, without confirming or denying the talks.
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