In a major shake-up for the global legal industry, London-based Hogan Lovells has unveiled plans to merge with Wall Street stalwart Cadwalader, Wickersham & Taft. The deal will forge a legal powerhouse with combined revenues approaching £2.7 billion.
A New Transatlantic Legal Giant
The proposed entity, to be named Hogan Lovells Cadwalader, is pending standard closing conditions and a partner vote scheduled for 2026. Upon completion, the firm will boast a formidable force of 3,100 lawyers operating worldwide. Its strategic footprint will be anchored by five key hubs: Washington, D.C., New York, London, Germany, and the Mediterranean region, encompassing France, Italy, and Spain.
Leadership for the combined firm will see Hogan Lovells' chief executive, Miguel Zaldivar, retain the CEO role. Cadwalader's leaders, Pat Quinn and Wes Misson, are set to assume significant international management positions within the new structure.
Drivers Behind the Mega-Deal
Executives from both firms cited client demand and shared values as the core rationale. "Clients are increasingly looking for law firms with deep sector expertise and broad global reach to advise on their most complex mandates around the world," stated Zaldivar. Echoing this sentiment, Quinn highlighted their aligned principles: "Throughout our discussions, it has been clear that we are driven by the same core values – excellence, ambition, collaboration, and an unwavering commitment to our clients, people, and society."
This move marks a significant evolution for Hogan Lovells, itself the product of a merger 15 years ago between Washington's Hogan & Hartson and the UK's Lovells. The firm first broke the £2 billion revenue barrier in 2023, reporting £2.69 billion in its latest results.
The Accelerating Trend of Legal Consolidation
This announcement is the third major transatlantic law firm merger in just two months, signalling a rapid acceleration in market consolidation. It follows the $2.7 billion tie-up between Ashurst and Perkins Coie in November, and the recent merger of Winston & Strawn with Taylor Wessing earlier this month.
The trend shows no sign of abating. A&O Shearman recently celebrated its first anniversary with revenues of £2.9 billion, while Herbert Smith Freehills' merger with Kramer Levin went live on 1 June. The strategic impetus is clear: to achieve the scale and global reach required to compete for top-tier mandates and potentially join the 'Global Elite' alongside firms like Kirkland & Ellis, which generates close to $9 billion annually.
As Ashurst's global chair Karen Davies noted, the client need is undeniable: "Clients want global solutions, and that is what drives everything in our business." The creation of Hogan Lovells Cadwalader is a direct response to this market imperative, setting the stage for a more concentrated and fiercely competitive global legal landscape.
