Partners give go-ahead to £700m merger of Clyde & Co and BLM
Partners at global law firm Clyde & Co and UK-headquartered BLM have voted in favour of merging this July to create a combined entity with a global revenue of over £700 million per year.
To be known as Clyde & Co, the merged firm will have a headcount of over 5,000 and offices in over 60 cities worldwide. Both firms have offices in Edinburgh and Glasgow, while Clyde & Co also has a third Scottish office in Aberdeen.
BLM is a UK and Ireland law firm focused on insurance risk and commercial law with a particular strength in casualty, personal injury, healthcare and professional liability. Clyde & Co is a global law firm, specialising in the sectors that underpin global trade and commercial activity, namely: insurance, infrastructure, aviation, energy, marine, and natural resources.
BLM will become part of Clyde & Co’s global insurance practice which provides advisory and dispute resolution services to insurers and their clients, including almost every top 20 insurer in the UK, and leading re/insurers globally.
The majority of its lawyers will join its casualty insurance practice, with other sizeable groups joining professional liability, healthcare and business advisory teams.
Carolena Gordon, Clyde & Co’s senior partner, said: “We are delighted the merger has secured approval from both sets of partners. At Clyde & Co we are always focused on growing and developing our offering for the good of our clients and our people and this merger does exactly that. BLM has highly talented people and outstanding client relationships and we are excited by the potential of this combination.”
Matthew Harrington, BLM senior partner, said: “We are looking forward to the opportunities combining both firms will bring for our people and our clients. This merger is one of aligned approaches and values, offering huge benefits to our clients in the areas that matter most.
“Combining our expertise will strengthen our market offering in the UK casualty, healthcare, and professional liability space, with true operational excellence and the agility to respond rapidly to the changing needs of the market.”
Matthew Kelsall, Clyde & Co’s CEO, added: “Our strategic objective as a firm is to build and maintain leadership positions across our core sectors. This combination bolsters our position as the leading law firm for the insurance sector in the UK by enhancing our ability to offer insurers the depth and breadth of support across business lines and regions they are looking for.”
James Cooper, Clyde & Co partner and chair of its global insurance practice group, added: “We have long sought to increase the scale of our UK casualty insurance practice though a merger so we can provide the full scope of services, technology, data analytics and innovation that clients in this dynamic part of the market require.
“Once we started speaking to BLM we quickly realised that we shared the same approach to client service, had a complementary client roster and similar ambitions in this space. This combination will also boost our regional UK presence and strengthen our healthcare and professional liability offerings too.”