Corporate practices earmarked for growth after merger goes live

Lovells and Hogan & Hartson have identified two overriding investment priorities as the pair gears up for the much-touted union to go live next month.

Hogan Lovells is to focus its initial investment on expanding its corporate practice in London and New York, according to future joint chief executive David Harris.

The current Hogan corporate practice in New York is sizable but has been earmarked for growth in the mid-term to broaden its transactional capabilities to complement its transactional strength in Washington DC.

Lovells' London corporate offering has long been viewed as underweight, and Harris expects that the merger will help to attract high quality lawyers. The practice, headed up by Andrew Skipper, is already in discussions with a number of potential laterals.

Harris (pictured) said: "We have plans to strengthen London and to develop the corporate practice in New York so that they are more in line with the size and range of the capabilities of the combined firm."

The second strategic push for the merged firm will be to build a bank-led finance practice in the US. In contrast to Lovells' European practice, Hogan's finance practice is largely focused on corporate clients.

A key priority will be to substantially expand the firm's market position with US underwriters in capital markets, deal finance and structured products. In terms of clients the firm will first concentrate on showing its existing client base the benefits a firm the size of Hogan Lovells can bring.

Harris added: "Our immediate priority is to communicate to clients the proposition the new firm represents and to cross-sell effectively within the client base."

Indications of the combined firms' priorities come as both have seen departures in Europe in the run-up to the union's formal launch on 1 May.

Most recently, two German partners quit Lovells for Allen & Overy last week, while Lovells announced the closure of its small Chicago branch in March, though the move was unconnected to the merger. Hogan has seen a small branch in Geneva and larger practices in Berlin and Warsaw split off.