SJ Berwin partners await update on Proskauer merger plans
SJ Berwin is expected to decide whether to push through with US merger plans in the next few weeks after taking time out to consider the potential merger with Proskauer Rose over the summer. SJ Berwin partners had expected that the lengthy merger discussions could reach the next stage last week, when the firm's strategy committee held its first meeting back after summer holidays. However, the committee did not reach a conclusion about how to progress the discussions, and no formal proposal has yet been put to the partnership.
September 15, 2010 at 08:02 PM
2 minute read
SJ Berwin is expected to decide whether to push through with US merger plans in the next few weeks after taking time out to consider the potential merger with Proskauer Rose over the summer.
SJ Berwin partners had expected that the lengthy merger discussions could reach the next stage last week, when the firm's strategy committee held its first meeting back after summer holidays. However, the committee did not reach a conclusion about how to progress the discussions, and no formal proposal has yet been put to the partnership.
Prime concerns which could stall the merger are understood to include cultural differences between the firms, but some SJ Berwin partners also said that the process could have suffered from entering the public domain at too early a stage.
One partner said: "I think that there are good things that could come out of a combination but the situation is slightly different from other recent transatlantic mergers in that Proskauer is so distinctly a New York firm. The culture in a New York firm and a UK firm differs quite significantly."
Separately, the top 20 City law firm has confirmed it will go ahead with replacing outgoing managing partner Ralph Cohen regardless of the outcome of the merger discussions, with candidates expected to be finalised next month.
City corporate partner Rob Day has emerged as a leading candidate after serving as interim managing partner while Cohen took a six-month sabbatical last year.
Competition head Stephen Kon and litigation chief Craig Pollack are also cited as possible candidates, with the election process expected to kick off in earnest in October.
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