Hammonds builds referral ties with US firm Holland & Knight

Hammonds has moved to tighten up its US referral relationships, with Florida-based Holland & Knight emerging as the firm's key referral partner.

Hammonds has taken the decision to increase the level of co-operation with the east coast US firm, which is now understood to be the firm's informal default referral partner following a recent influx of joint client instructions.

The national firm maintains relationships with a number of US law firms; however, partners are now being encouraged to send work to Holland & Knight if there is no reason to use another firm.

Although Hammonds managing partner Peter Crossley and Holland & Knight managing partner Steven Sonberg stressed no merger talks had taken place between the two firms, it is understood that the possibility of a more formal alliance would not be ruled out in the future. Hammonds is also considering joint training or secondments looking ahead.

The pair has jointly advised on a number of recent deals, including advising Brown & Brown on the setting up of its insurance brokerage business, Decus Insurance, in the UK and electronics company Jabil Circuit on a number of international acquisitions.

Other clients Holland & Knight has referred to Hammonds include Raymond James Financial Services and Medical Technology Services.

Hammonds stressed that it will still consider taking on sizeable transactions from other US law firms. Currently 10%-15% of Hammonds' turnover comes from US-related instructions.

Hammonds has been moving to narrow its stateside alliances since 2008 when it set up a committee, which included corporate head William Downs, US head David Hull and Crossley, to look into its opportunities in the US. At the time, a US tie-up or the formation of a strategic alliance was high on the agenda.