Maclay Murray & Spens set to merge with global giant
Deal with Dentons sees Scots law firm rebranding and likely to result in job cuts
Commercial law firm Maclay Murray & Spens (MMS) has revealed that it is to merge with global legal giant Dentons, in a move likely to lead to job cuts.
MMS said the deal, terms of which were not disclosed, will see it forego its brand to come under the banner of Dentons, the world’s largest law firm by number of lawyers.
The Scots firm was founded in Glasgow in 1871, was the first commercial law practice to be set up in Scotland, and is now also present in Edinburgh, Aberdeen and London.
The tie-up with Dentons, which currently has more than 8,000 lawyers in 60 countries, will result in about 800 fee-earners in the UK, including 200 partners, and is set to complete later this year pending relevant approvals.
MMS chief executive Kenneth Shand told The Scotsman that deal talks started in earnest at the start of 2017, “getgrow ting to understand the strategic fit for the businesses, how the practice areas would complement one another and what the opportunities would be going forward”.
The Scottish law firm’s workforce comprises 258 fee-earners, including 62 partners, with a team of 430 staff altogether including support staff, and Shand addressed any potential impact on headcount.
He said: “We’re very much in the foothills of thinking about [integrating the businesses]… there are inevitably going to be some areas, as in any combination, where there are some synergies but we haven’t formed any conclusions on any of that at this stage.”
However, he underlined the benefits brought by the global presence of Dentons, which operates under a “decentralised” structure with no specific headquarters.
“I think overall this is about expanding the proposition and extending the opportunity available to both our clients and Dentons’ existing client base and we would expect to over time,” Shand said. The disappearance of the MMS name will follow that of Mcgrigors, which merged with Pinsent Masons in 2012, and Dundas & Wilson, which was swallowed by Londonbased CMS the following year.
Shand said: “I’ve been with the firm 35 years so I have a strong personal emotional attachment to a brand that’s been going for a long time, but we do feel that we have a significant opportunity here to really enhance the platform that’s available to our clients, primarily.”
Jeremy Cohen, chief executive for the UK and Middle East region at Dentons, stressed strong overlap between the two organisations.
“We’ve got a really strong presence on all continents so… clearly that’s an opportunity to take to the Scottish market.”
The latest deal follows the global business teaming up with law firms in Latin America and the Netherlands, and Cohen did not rule out more transactions. “We continue to look at other countries where our clients are active… so for sure you’ll continue to see some growth from us.”
emma.newlands@jpress.co.uk