News that Taylor Wessing’s UK business plans to combine with Chicago-based firm Winston & Strawn to form a new transatlantic practice, Winston Taylor, is the latest in a growing series of tie-ups between US and UK law firms.
What was once an occasional strategic move has, in recent years, become a familiar pattern, with firms on both sides of the Atlantic quietly building broader platforms to serve clients whose work no longer fits neatly within a single jurisdiction.
The momentum has picked up as clients, particularly at the UHNW end of the market, grow increasingly internationally mobile.
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Last month, Ashurst and Perkins Coie announced plans to merge, a deal that would create a firm of around 3,000 lawyers if approved by partners, with completion expected in 2026.
This summer, Herbert Smith Freehills combined with Kramer Levin to form a 2,700-lawyer firm, while Allen & Overy’s merger with Shearman & Sterling last year created a practice of nearly 4,000 lawyers.
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Why law firms are chasing transatlantic reach
Transatlantic mergers are, perhaps unsurprisingly, largely about reach. US firms want a stronger presence in London and across Europe, while UK firms seek a foothold in the US, where many of their clients operate.
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The moves also reflect a wider shift in the legal market, with firms competing to be counted among the top global practices. Taylor Wessing’s announcement on Monday presented the merger as a response to growing client demand for seamlessly integrated US-UK-EU counsel for the businesses, people and markets driving capital and innovation.
But the trend is also driven by talent and cost.
For experts such as Oriana Morrison, a UK-US tax strategist for elite performers in sport and entertainment, the rationale goes beyond client work.
She notes that firms are seeking ‘exceptional talent at a more efficient cost,’ pointing to differences in how the professions are valued on either side of the Atlantic. ‘In America, these professions are often revered; in the UK, they are respected but not idolised,’ she tells Spear’s. That creates a pricing gap, she explains, but one ‘that has nothing to do with quality. UK talent is at least as strong, and in many cases stronger than US talent.’
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But transatlantic mergers are ‘as much a talent strategy as [they are] a client strategy,’ Morrison adds. For firms, the ability to offer top-tier US terms to lawyers based in London, Madrid or elsewhere in Europe has become a major recruitment and retention tool, reducing barriers such as visas, lifestyle trade-offs and rigid career paths.
And it is no coincidence that London remains central to many US firms’ transatlantic plans; the city continues to provide one of the simplest and most flexible bases for cross-border operations.
As Morrison points out, ‘London hasn’t lost its role as a gateway to cross-border capital – it has just been tested. Despite Brexit and political noise, it remains the most efficient legal and financial hub linking the US, Europe, the Middle East and beyond.’
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The city’s relatively low bureaucracy also makes it easier to service clients across Europe. ‘If you’re operating in Spain, for example, it is often more straightforward to work from London than from a US-based structure,’ Morrison says, adding that London is ‘streamlined and effective, while still allowing firms to maintain strong relationships across Europe.’
Why private capital has become central to merger strategy
Private capital has quietly become a key part of these deals.
The traditional partner model is ‘just too slow for the current consolidation cycle,’ Morrison says – and in a market moving this fast, speed matters.
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Money from outside investors allows firms to act quickly, funding integrations, underwriting lateral risk and scaling platforms at a pace partnerships cannot match. ‘Speed is now a competitive advantage,’ Morrison emphasises, ‘especially as soon even law and accountancy firms will have to become technology firms first and foremost. What works for tech will work for professional services.’
What this trend means for UHNW clients
This wave of US-UK law firm mergers is a response to demand largely driven by UHNW clients, who are increasingly mobile and active across multiple countries.
‘For UHNW and internationally mobile clients, the real value lies in having one firm, one relationship and one cohesive strategy across jurisdictions,’ Morrison says.
She gives the example of a Brazilian family: if they are unsure where to set up a holding company, they cannot rely on a local accountant alone. ‘That immediately requires bringing in additional advisors and paying multiple firms to coordinate with one another,’ she explains. Add a US trust for a child studying there, and suddenly three separate firms are involved, each with only partial visibility. ‘UHNW families are inherently international,’ Morrison notes.
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A merged (or fully integrated) firm simplifies all of that. ‘It becomes a true one-stop shop across jurisdictions. There is no double-billing, no handover between advisers and no need to start from scratch every time the family’s structure, geography or priorities change. One firm. One strategy.’
While the initial cost may be higher, clients ultimately work with a single firm throughout everything – from structuring and growth to disputes and succession – without losing any knowledge along the way.
