Having already announced a mammoth combination with Chinese firm Dacheng under a Swiss verein structure this year, Dentons bolstered both its US and CEE capabilities last month by combining with Atlanta-based McKenna Long & Aldridge and hiring a 50-strong team from the Budapest office of White & Case.
Dentons had been scoping the market for a US combination for some time, and previously attempted to tie-up with McKenna Long in 2013 – though that was unsuccessful after partners at both firms rejected the move. This time, Dentons chief executive Elliott Portnoy said events ran more smoothly than had been widely reported. ‘The conversation moved with substantial speed; in 2013 we weren’t able to bring it to a final closure. It’s common for them to begin and unfold over a number of years but fade before a deal can be done. You need a high level of alignment around strategy.’
Now having finally obtained approval, the combination is set to become effective later this year and will see Dentons US led by co-chief executives Jeff Haidet, the current chair of McKenna Long, and its existing chief executive Peter Wolfson, while Dentons US managing partner Mike McNamara will retain his position. The deal hands Dentons an office in South Korea as well as several more across the US, and boosts its corporate, litigation and real estate practices. However, management expects that ‘not all lawyers and professionals will join the combined firm’ for different reasons, including client conflict, and expect departures in the coming weeks.
‘Growing the firm is an ongoing process, it’s not one you can ever be finished in.’
Joe Andrew, Dentons
Last month also saw the firm hire a 50-strong team from the Budapest office of White & Case, including partners István Réczicza, Rob Irving and Edward Keller, who join alongside approximately 50 local partners, associates and other professionals.
The team officially made the move at the beginning of this month to ‘strengthen’ the firm’s corporate M&A, private equity, TMT and disputes offering in Hungary. Dentons’ Budapest office previously housed 13 lawyers while the hire sees White & Case officially pull out of the region.
On its continued efforts to scale up, Dentons chair Joe Andrew commented that the firm is ‘always in formal discussions with other law firms’ and added: ‘Growing the firm is an ongoing process, it’s not one you can ever be finished in. Markets change and we attract new clients – any firm that says it’s finished is by definition not focused on its clients. We’ll continue to react and grow as a tactic and strategy of meeting client needs. There is no end point.’
sarah.downey@legalease.co.uk