Not a week has passed in the new year without the mention of a law firm merger, and the latest one may be the biggest one yet.
Orrick — a firm that brought home $1,316,335,000 gross revenue in 2021, putting it in 35th place in the most recent Am Law 100 — recently announced that it would be combining with Am Law 200 firm Buckley, which generated $148,496,000 gross revenue in 2021.
Per the American Lawyer, Orrick’s and Buckley’s combined $1.47 billion in revenue would have ranked it No. 28 on last year’s Am Law 100. Around 100 lawyers (including about 35 partners) will join Orrick, for a total of about 1,150 attorneys. Together, they will create a Biglaw powerhouse, serving as a leader in representation among financial services firms and fintech innovators.
Through this merger, Orrick will not only significantly expand its D.C. footprint and grow its teams across the country in New York, Santa Monica, and San Francisco, but it will also add a new office in Chicago. It’s important to note here that while other Biglaw firms seem to be scrambling to think up ways to cut budgets and headcount, the Orrick/Buckley merger brings together two firms that have consistently been recognized as some of the best places to work in the industry, focused on a healthy work-life balance for their associates. If you recall, Orrick was one of the very first firms to offer associates bonus-eligible hours, simply for taking time off.
Here’s what the leaders of both firms said in a press release about the merger:
“Our finance and tech clients are innovating in an environment of increasing regulatory and enforcement uncertainty – it’s one of their primary business risks. As these sectors converge, the combined firm will offer valuable regulatory and sector insight to these innovators and their investors who need to see around regulatory corners in pursuing their strategies,” said Orrick Chair Mitch Zuklie. “This kind of forward-looking advice is key to Orrick’s strategy – and we are extraordinarily fortunate to add the Buckley talent and strengthen our culture with the collaborative, innovative, entrepreneurial DNA of the Buckley team.”
“It’s a watershed moment as the consumer finance and technology markets converge. This transformation creates a host of novel and precedent-setting regulatory, transactional and litigation risks and opportunities for our clients – and by joining forces with Orrick, we will be able to partner closely with our clients on top-quality, holistic solutions,” said Buckley Co-Managing Partner Clint Rockwell.
“Buckley was founded on a vision of thinking differently about both our clients’ business opportunities and challenges, as well as the practice of law – and in Orrick, we have an extraordinary partner in taking that vision forward,” said Buckley Co-Managing Partner Chris Witeck.
The merger is expected to close by the end of the month. Congratulations to everyone at Orrick and Buckley on this exciting new venture.
Orrick, Buckley Combine To Form Financial Services & Fintech Law Powerhouse [Businesswire]
Orrick to Merge With Buckley, Nearly Doubling Its DC Footprint [American Lawyer]
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
