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| Partners at Clyde & Co and Barlow Lyde & Gilbert have voted to proceed with a merger – the largest ever between two UK law firms. The merger creates an insurance leader which will operate under the Clyde & Co banner when it launches on November 1, according to a report in Legal Week. It will have more than £300m (US$ 490m) in combined revenues, more than 1,250 fee earners and 2,250 total staff operating from 27 offices worldwide. As well as insurance, the new firm will cover sectors including aviation, marine, trade energy and infrastructure. Clyde’s senior partner Michael Payton and chief executive Peter Hasson will retain their existing roles in the combined firm, with Barlow’s chief executive David Jabbari set to take up a new post as chief operating officer, according to Legal Week. Around 15 percent of Barlows’ 100 partners have been asked to leave the firm before the union goes ahead, the majority of which are believed to be from the firm’s reinsurance and corporate departments. The merged firm will have 270 partners, with all of Barlows’ remaining partners set to join Clyde. |
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