01 Feb 2017

Eversheds Sutherland transatlantic tie-up goes live

The combined firm has lifted the curtain on its new leadership team as the tie-up between Eversheds and Atlanta-based firm Sutherland Asbill & Brennan officially goes live today.

New Chairman and Managing Partner for international firm McGuireWoods. EDHAR

Following a partner vote in December, the two firms have no officially combined to create transatlantic outfit Eversheds Sutherland, ending Eversheds’ years-long hunt for a US based merger partner. The tie-up has created a £600m firm with approximately 2,000 lawyers across offices 61 offices in 29 different countries. The new firm will be headed up Eversheds chief executive-elect Lee Ranson, who was due to take the CEO role in May but will likely step up early, and co-chief Mark Wasserman, managing partner of now legacy Sutherland Asbill & Brennan. The pair will serve at the helm of a six-person global management team that also includes Eversheds managing partner-elect Keith Froud, Eversheds international managing partner Ian Gray, Sutherland head of real estate Victor Haley and Sutherland tax partner Thomas Gick.

Incentivising integration

As both firms work towards ensuring a smooth integration of their businesses, it has been reported that both Eversheds and Sutherland have set aside bonus pools for partners to help facilitate integration between the firms through client referrals. Mr Ranson told Legal Business: ‘There are a number of things that are helping to work a common approach. The global executive and the global board are going to bring a consistency in approach. Both firms' remuneration structures take into account behaviours and cross-selling. Then we have got the bonus points and we are encouraging people within our practice groups, sectors and within our international operations teams to make contact with their opposite numbers, to talk about client opportunities and best practice. We are encouraging that interaction as much as possible.’

Sources: Legal Business; The Lawyer