New York, October 25, 2006 – LAWFUEL – Law News, Law Jobs – Dewey Ballantine LLP and Orrick, Herrington & Sutcliffe LLP, two leading global law firms, announced today that the
firms’ respective Management and Executive Committees have made initial
recommendations to their partners about combining into a new firm named
Dewey Orrick LLP that will retain Orrick’s well-known “O” brand. Ralph
Baxter, Orrick’s current Chairman, and Morton A. Pierce, Dewey’s current
Chairman, would serve as Co-Chairmen, with Mr. Baxter serving as the new
firm’s Presiding Partner.
The firms’ merger is dependent on the finalization of terms, ongoing due
diligence and approval by a vote of each firm’s partners which the firms
expect to obtain by mid-December.
Dewey Orrick would count 1,500 lawyers in 21 offices across North America,
Europe, and Asia. With combined revenue of approximately US$1 billion, the
firm would rank among the top ten U.S. law firms on “The Am Law 100,” an
annual survey conducted by The American Lawyer. Almost one-third of the
firm’s lawyers would reside outside the United States, and at 500 lawyers,
Dewey Orrick would have the seventh-largest New York office of any law
firm.
“The Dewey Orrick merger would anticipate the future needs of our clients, and position the combined firm as one of the world’s premier law firms,” Mr. Baxter said. “Globally dominant legal providers will be characterized by market-leading practice groups, with a particular strength in M&A, finance and litigation; by having significant operations in all the world’s leading commercial and financial centers; and by attracting and retaining
top legal talent due to their superior economic performance. All of these
characteristics would mark Dewey Orrick.”
“This merger will change the face of the legal industry, serving as a model
of what law firms need to look like in order to anticipate their clients’
needs in a national and international marketplace,” Mr. Pierce said.
“Clients will need law firms that are innovative and creative in the way
they run their businesses and in the ways in which they partner with their
clients.”
Each firm is known for its class-leading transactional and litigation
practices. The combined firm would receive the fifth-most top-ten rankings
across all transaction categories on The American Lawyer’s annual
“Corporate Scorecard” survey, including ranking as the #1 M&A firm for
investment advisors, the #1 underwriter’s and bond counsel for municipal
bonds, and among the top 10 firms for IPOs for underwriters. The combined
firm would have one of the largest tax departments of any general practice
law firm, with attorneys practicing a full spectrum of corporate tax work.
The National Law Journal named Orrick to its annual “Defense Hot List” of
the top 10 defense litigation practices, and The American Lawyer also
ranked Orrick among its “Distinguished Dozen” of elite litigation groups.
Dewey’s litigation practice is a global leader, having litigated many of
the most important antitrust, intellectual property, corporate fraud,
securities, international trade and sports litigations in history.
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About Orrick
Orrick, Herrington & Sutcliffe LLP, an international law firm with 950
lawyers in North America, Europe and Asia, was founded in 1863. The firm
focuses on litigation, complex and novel finance and innovative corporate
transactions. Orrick clients include Fortune 100 companies, major
industrial and financial corporations, commercial and investment banks,
high-growth companies, governmental entities, start-ups and individuals.
The firm’s 18 offices are located in Beijing, Hong Kong, Taipei, Tokyo,
London, Milan, Moscow, Paris, Rome, Los Angeles, New York, Orange County,
Pacific Northwest, Sacramento, San Francisco, Shanghai, Silicon Valley and
Washington, D.C.
About Dewey Ballantine
Dewey Ballantine LLP, an international law firm with 550 lawyers located in
New York, Washington, D.C., Los Angeles, East Palo Alto, Austin, London,
Warsaw, Frankfurt, Milan, Rome and Beijing, was founded in 1909. Through
its network of offices, the firm handles some of the largest, most complex
corporate transactions, litigation and tax matters in areas such as M&A,
private equity, project finance, corporate finance, corporate
reorganization and bankruptcy, antitrust, intellectual property, sports
law, structured finance and international trade. Industry specializations
include energy and utilities, healthcare, insurance, financial services,
media, consumer and industrial goods, consumer electronics, technology,
telecommunications and transportation
