Orrick, Herrington & Sutcliffe LLP and Hölters & Elsing (Partnerschaft von Rechtsanwälten) announced today that the partnerships of both firms have agreed to merge. The partners of Hölters & Elsing and Orrick voted in favor of the merger of their two firms with the effect that Orrick will operate in Germany as Orrick Hölters & Elsing.
At the outset, the combined firm will have 55 lawyers in three offices in Germany. The firm will have 1,100 lawyers – over 250 throughout Europe alone – in 21 offices across Asia, Europe and North America. Over one-third of the firm's lawyers will work outside North America.
"We are strategically expanding our global platform with the addition of one of the last major, independent law firms in continental Europe's leading economy," said Ralph Baxter, Chairman and CEO of Orrick. "In Hölters & Elsing, Orrick has found partners with compatible work ethics, long-term goals and culture – crucial elements to a successful merger. This merger adheres to Orrick's tradition of simultaneously providing clients with integrated global reach and local expertise."
"Increasingly, our clients have been requiring the scale and scope that only a global law firm can provide," said Prof. Dr. Siegfried H. Elsing, co-founding partner of Hölters & Elsing. "We have had a number of offers to merge with other elite global firms, and Orrick offered the most attractive pan-European platform and the right mix of high-end legal work, visionary leadership, cultural compatibility and sophisticated management," said Dr. Wolfgang Hölters.
Dr. Arno Frings, formerly managing partner of Hölters & Elsing, will serve in the newly created position of Partner-in-Charge of Germany and will have a seat on Orrick's European Supervisory Committee. Prof. Elsing will have a seat on Orrick's European Supervisory Committee, as will he participate in Orrick's Executive Committee meetings.
Both firms had significant growth in 2007. Orrick posted its 18th consecutive year of improved economic performance, with record revenue of $772 million (€546,293,413 at current conversion rate), a 16 percent increase over the previous year. In 2007, Hölters & Elsing's total revenue was €24,000,000 ($33,865,920 at current conversion rate), a 19.5% increase over the previous year.
Since 2002, Orrick has opened or considerably expanded several offices. The firm opened an office in Paris in 2002, in Milan in 2003 and in Rome in 2004. In 2005, Orrick doubled the size of its London office with the addition of partners from Coudert Brothers and also opened offices in Moscow, Taipei and Hong Kong. In 2006, the firm opened in Beijing and Shanghai. Also in 2006, Orrick greatly expanded its Paris office by merging with Rambaud Martel.
About Orrick
Orrick, Herrington & Sutcliffe LLP is a global law firm with more than 1,100 lawyers in North America, Europe and Asia. The firm focuses on dispute resolution, complex and novel finance, and innovative corporate transactions. The firm's 21 offices are located in Beijing, Berlin, Düsseldorf, Frankfurt, Hong Kong, London, Los Angeles, Milan, Moscow, New York, Orange County, Pacific Northwest, Paris, Rome, Sacramento, San Francisco, Shanghai, Silicon Valley, Taipei, Tokyo and Washington, D.C.
Contacts:
Allan Whitescarver, +1
415-773-5578
awhitescarver@orrick.com
