Dentons is set to merge with troubled Scottish firm Maclay Murray & Spens.
The huge firm announced this week that it is aiming to complete the merger with MMS later in 2017 subject to a partnership vote. Touting itself as "the world's largest law firm", Dentons, never backwards in coming forwards, said the move would bring its global headcount of "lawyers and professionals" to 8,700. The move will add offices in Aberdeen, Edinburgh and Glasgow to its network.
Dentons' Global Chief Executive Officer Elliott Portnoy said it "accelerates Dentons' momentum as we continue our journey 'from largest to leading'". He said, "Combining with strong, independent and well-established firms is central to Dentons' 'in and of the community' ethos, and with its rich history in the Scottish market Maclay Murray & Spens fits very much into this category".
Richly-historic MMS has been looking to merge since the Scottish market found itself in difficulties a decade ago when the banks collapsed. McGrigors tied up with Pinsents in 2012, Dundas & Wilson was absorbed by CMS in 2014 and Simpson & Marwick merged with Clyde & Co in 2015. Meanwhile MMS failed to seduce Bond Pearce in 2012 and talks with Addleshaw Goddard fell apart in 2016. It has made staff redundant, frozen pay, lost partners and won a reputation for being stingy (perhaps that's why a staffer embezzled £180,000). This spring it refused to divulge its historic trainee retention figures, casting suspicion on its claim that it offers trainees a "bright future".
But perhaps now it does, as staff will be part of the giant Dentons conglomerate instead. Virtually taking off with excitement, MMS CEO Kenneth Shand frothed improbably that "Dentons will unquestionably be the only significant player in Scotland".
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The huge firm announced this week that it is aiming to complete the merger with MMS later in 2017 subject to a partnership vote. Touting itself as "the world's largest law firm", Dentons, never backwards in coming forwards, said the move would bring its global headcount of "lawyers and professionals" to 8,700. The move will add offices in Aberdeen, Edinburgh and Glasgow to its network.
Dentons' Global Chief Executive Officer Elliott Portnoy said it "accelerates Dentons' momentum as we continue our journey 'from largest to leading'". He said, "Combining with strong, independent and well-established firms is central to Dentons' 'in and of the community' ethos, and with its rich history in the Scottish market Maclay Murray & Spens fits very much into this category".
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Dentons likes what it hears. |
Richly-historic MMS has been looking to merge since the Scottish market found itself in difficulties a decade ago when the banks collapsed. McGrigors tied up with Pinsents in 2012, Dundas & Wilson was absorbed by CMS in 2014 and Simpson & Marwick merged with Clyde & Co in 2015. Meanwhile MMS failed to seduce Bond Pearce in 2012 and talks with Addleshaw Goddard fell apart in 2016. It has made staff redundant, frozen pay, lost partners and won a reputation for being stingy (perhaps that's why a staffer embezzled £180,000). This spring it refused to divulge its historic trainee retention figures, casting suspicion on its claim that it offers trainees a "bright future".
But perhaps now it does, as staff will be part of the giant Dentons conglomerate instead. Virtually taking off with excitement, MMS CEO Kenneth Shand frothed improbably that "Dentons will unquestionably be the only significant player in Scotland".
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