City law firm SJ Berwin today sealed a $1 billion (£650 million) tie-up with Asia-based rival King & Wood Mallesons.
The deal has been approved by partners at both firms and will create an enlarged business with 2700 lawyers working in 30 offices across the world. It also spells the end for SJ Berwin’s name as the enlarged group will eventually trade under the King & Wood Mallesons brand.
Stephen Kon, SJ Berwin’s senior partner, said: “This combination was the logical next step for the network. It positions our clients, partners and people to engage fully with the Asian century, representing an opportunity for us to build a law firm for the future which is worthy of all we have achieved at SJ Berwin with our clients to date.”
The combined firm will have revenues of about $1 billion a year.
Stuart Fuller, global managing partner at King & Wood Mallesons, added: “We are delighted to welcome SJ Berwin on board. This will provide our clients in the region with a first-class platform and an entrepreneurial spirit to support their international expansion. It will also provide international clients with the best gateway to Asia with a global firm that has superb transactional cross-border skills and understands local cultures.”