Eversheds Sutherland Joins KWM To Create Global Referral Alliance
It's not a merger, but this money isn't going to make itself.
Eversheds Sutherland may have the urge to merge, but the firm isn’t willing to go that far just yet. Instead, the global firm is making waves with its decision to enter into a “cooperation agreement” with China’s King & Wood Mallesons. While this isn’t a merger per se, the new arrangement will tie up the firms’ more than 6,000 and billions of dollars of revenue under the same referral umbrella.
The American Lawyer has additional details on what, exactly, will occur under this plan:
Under the referral arrangement, KWM China will refer all future matters requiring legal advice in the U.K., Europe, Middle East, Africa and South America to Eversheds Sutherland International, while Eversheds’ clients requiring China advice will be referred to KWM.
The cooperation agreement gives Eversheds access to the lucrative Chinese market, which is currently closed off to foreign firms due to strict regulations.
As part of this arrangement, KWM will cease operations in the U.K., Europe and the Middle East by the end of October 2024, with all of those employees invited to join a local Eversheds offices.
Here are statements from Wang Junfeng, global chairman of KWM, and Lee Ranson, chief executive of Eversheds Sutherland International, on the new about the alliance:
Junfeng: “We are delighted to have reached this agreement with Eversheds Sutherland (International) after having successfully worked together on a number of important client matters over the last year. Demand for international legal services has increased and diversified at pace, and Eversheds Sutherland (International) is an ideal fit for our clients with its extensive worldwide network. Both firms share a commitment to quality, efficiency and providing the highest levels of client service. This arrangement is an exciting development in the international legal market, bringing elevated, global service offerings and new opportunities.”
Ranson: “We are excited to be entering into these arrangements with the leading firm in China. Our clients have increasingly complex needs for PRC legal advice in China, and this new arrangement creates the platform to deliver a solution of the very highest calibre as well adding strength to our European and Middle East businesses. Working together on certain client development opportunities will also create opportunities for us to generate significant new work across the globe.”
Notably, the agreement does not include the Eversheds U.S. practice. Best of luck to the two firms as they begin this new journey together.
Eversheds Sutherland Forms Alliance With China’s KWM [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 and Threads or connect with her on LinkedIn.
