UK law firm Clyde & Co is to merge with compatriot BLM to create a giant international law firm generating £700m ($912m) in annual revenue.
The merger was announced after partners at both firms voted in favour of the deal.
The two firms plan to begin the new operation from July this year under the name Clyde & Co.
BLM specialises in insurance risk and commercial law with a particular strength in casualty, personal injury, healthcare and professional liability.
Clyde & Co is a global law firm with a strong marine practice also covering insurance, infrastructure, aviation, energy, and natural resources.
The plan is to include BLM in Clyde & Co’s global insurance practice.
The combined entity employ over 5,000 people at offices in 60 cities worldwide.
Strategic objective
“Our strategic objective as a firm is to build and maintain leadership positions across our core sectors,” said Clyde & Co chief executive officer Matthew Kelsall.
“This combination bolsters our position as the leading law firm for the insurance sector in the UK by enhancing our ability to offer insurers the depth and breadth of support across business lines and regions they are looking for.”
BLM senior partner, Matthew Harrington said: “We are looking forward to the opportunities combining both firms will bring for our people and our clients. This merger is one of aligned approaches and values, offering huge benefits to our clients in the areas that matter most.”
