Ashurst Perkins Coie: a new global force reshaping the legal market
In 2026, Ashurst Perkins Coie will make its debut as one of the new global giants in the legal services market. The firm is the result of a merger between two long-established institutions – Ashurst and Perkins Coie – which have announced an ambitious combination designed to unite capabilities, geographies, and cultures into a single global platform. The new law firm will launch as a top-20 player worldwide and will stand among the most significant developments in the evolution of the contemporary legal industry.
In their joint statement, the two firms describe the deal as a “combination of equals,” conceived to create a highly integrated structure capable of delivering deep sector expertise and a truly connected global network.
Perkins Coie contributes strong specialization in the technology sector – corporate, IP, litigation, privacy, fintech, environmental, and life sciences – while Ashurst brings long-standing excellence in legal innovation, cross-border transactions, and the energy, infrastructure, financial services, and real estate sectors.
The new firm will launch with:
- 52 offices in 23 countries
- Primary hubs in Seattle, London, Sydney, and New York
- Enhanced presence in Brussels, Dubai, Frankfurt, Hong Kong, Paris, Seoul, Shenzhen, Singapore, and Tokyo
- 3,000 lawyers, including more than 450 recognized by Chambers and Partners, positioning the new entity 4th globally by number of ranked practitioners
From a financial perspective, the combination is built on strong performance from both firms, each of which has already invested heavily in advanced technologies—including proprietary AI systems—with the stated goal of transforming not only internal operations but also their ability to support clients amid profound global change.
Governance of the new entity, Ashurst Perkins Coie, will be led by two Global Co-CEOs, Bill Malley and Paul Jenkins (BOTH PICTURED, LEFT AND RIGHT), ensuring continuity and a long-term strategic outlook.
Mergers reshaping the global market: the rise of a “global elite”
The creation of Ashurst Perkins Coie is part of a broader and increasingly visible trend: the emergence of a select group of global law firms capable of operating in a fully integrated manner on a global scale. In recent years, several mergers have marked a turning point, redefining the structure, scope, and ambition of leading international firms.
A&O Shearman: a new UK–US integrated model
Announced in 2023 and completed in 2024, the merger between Allen & Overy (UK) and Shearman & Sterling (US) created A&O Shearman, one of the most emblematic deals of this new market phase. The combined firm has:
- 3,900 lawyers
- Nearly 800 partners
- 49 offices
- Estimated combined revenues of USD 3.4 billion
A&O Shearman has been presented as the first fully integrated law firm with comprehensive US, English, and local law capabilities—an architecture built to meet the needs of global clients operating in highly regulated, capital-intensive sectors.
HSF Kramer: a transatlantic platform exceeding 2 billion
In 2025, another landmark merger accelerated market consolidation: Herbert Smith Freehills and Kramer Levin approved a combination that resulted in HSF Kramer.
Key figures include:
- 2,700 lawyers
- More than 630 partners
- Projected revenues exceeding USD 2 billion
- A single integrated profit pool, one of the most robust indicators of genuine operational merger
The new firm positions itself as a strategic player in the tech, energy, infrastructure, and financial sectors, adopting a model reminiscent of multidisciplinary professional-services giants.
Why is this happening? The drivers behind consolidation
These mergers are not isolated events. They reflect structural forces reshaping the legal sector:
- Globalization of Economic Activity
Companies now operate within distributed value chains, requiring legal support across multiple jurisdictions and regulatory regimes. Demand for integrated, consistent, and continuous legal services is rising sharply. - Competitive Pressure and Need for Scale
Large cross-border deals, financial regulation, compliance, and multilayered litigation require legal infrastructures far more robust than what national or regional firms can typically provide. - Technology and AI Investment
Investment in artificial intelligence and digital platforms is now essential—but costly. Only global groups achieve the critical mass needed to sustain continuous innovation. - Increasing Demand for Talent
Competition for top lawyers is global. Mega-firms offer international career paths, advanced infrastructure, and more competitive compensation, attracting top-tier professionals.
What are the implications of this consolidation?
The emergence of a small number of powerful global players could have deep consequences:
For the market
- Consolidated service offerings: major firms will absorb global clients, while mid-sized firms face intensified competition for niche or local markets.
- Higher fees in high-value practices, driven by rising technology costs and scarcity of senior talent.
For clients
- Greater cross-border continuity, but also:
- Potential reduction in competition in certain segments, with fewer truly global alternatives.
For lawyers
- Expanded international opportunities, but also:
- Increasing pressure on performance models
- Risk of homogenized professional cultures
Towards a new global legal services landscape
The merger between Ashurst and Perkins Coie represents the latest step in a broader transformation: the emergence of a global elite of law firms capable of operating with the same scalability, integration, and financial strength as the multinational corporations they serve.
A&O Shearman, HSF Kramer, and Ashurst Perkins Coie point clearly in the same direction: the future of the legal market will be dominated by a small number of highly integrated, technologically advanced giants with extensive footprints in the world’s major economic hubs.
The key question for the coming decade is whether this consolidation will lead to greater efficiency and quality—or whether it will reduce the diversity and competition that have long characterized the legal profession. It is a challenge that touches firms, clients, regulators, and practitioners alike, and one that will inevitably reshape the global business-law landscape.
