The deal, which goes live on 1 January, 2008, will see all 28
The move follows prolonged talks between the US-based firm and the profitable Hong Kong practice, which have been ongoing since Reed Smith’s merger with Richards Butler’s UK arm in June last year.
The stumbling block for the Richards Butler Hong Kong arm had been the significance difference in profit per equity (PEP) between the Reed Smith partners and themselves.
While Reed Smith reported PEP of around $940,000 (£461,000) last year, it has been widely reported that the
The
Other notable recent mergers for the expansive US firm include its tie-up with Chicago outfit Sachnoff & Weaver, announced in October last year. The deal gave Reed Smith 140 lawyers in
Following the completion of the
Reed Smith managing partner Greg Jordan commented: “A key objective of our strategic plan has been to develop a leading presence in the commercial business centres most important to our clients. Hong Kong,
More news, deals and comment on Reed Smith Richards Butler
Is this the final piece of the jigsaw for Reed Smith? Have your say with the Legal Week Wiki
