In an American Lawyer analysis piece noting the 20th anniversary of the merger that formed WilmerHale, the union has been heralded as one of the most successful law firm mergers of all time.
“Overall, WilmerHale is widely perceived as one of the most successful law firm mergers of all time. Drivers that shape the market’s perception include a reputation for consistently excellent quality and market leadership in chosen areas of focus,” American Lawyer reported in the piece that appeared June 6, 2024 – a week after the May 31 date of the anniversary.
The article went on to note that a look at WilmerHale today highlights how the merger “served to boost the combined firm into the national scene and grab market share away” from competitors.
In an interview for the article, Bill Lee – partner in the Boston office and an original co-managing partner alongside Bill Perlstein – noted the special formula that led to WilmerHale’s success over the years.
“We were different. We had different histories. But at the end of the day, the quality of lawyers, the quality of practice, the commitment to public service, the commitment to pro bono and the community were very common values of the two firms,” Lee said.
Lee told American Lawyer that at the time of the merger, both firms realized that they needed to do something that “made us more substantial” nationally.
“We were both in transition; we both knew that we needed to change and to grow. But we wanted to do it in a way where the most fundamental values of the institution stayed the same. And that’s why it was an easy decision for everybody,” Lee said.
Current managing partner Anjan Sahni – who was a New York-based associate of Wilmer while the merger was taking place – told American Lawyer that the merger “inculcated a sense of innovation, that we can adapt, we can innovate, we can do difficult things.”
In his comments for the piece, Perlstein outlined what both Wilmer Cutler and Pickering, and Hale and Dorr, intended from the merger.
“[What we] tried to do was to build a firm that had the full suite of what we thought the key practices were,” said Perlstein.
Perlstein was managing partner of Wilmer at the time of the merger, while Lee was managing partner of Hale and Dorr.
The article noted that in the current environment of strong merger interest in the legal sector, a lookback at the merger of Wilmer and Hale and Dorr – “one of Big Law’s most famous mergers” – provides some clues to firms currently in talks about navigating the merger process and what worked.
As well as a strong cultural fit and a peerless bench, complementary practice areas and a strategic vision for growth was tantamount to success, noted one industry commentator quoted in the article.
“From a practice standpoint it made a lot of sense because Wilmer was very strong in…all of the Washington sort of practices…whereas Hale and Dorr was a player in the technology space, known for their corporate practice,” the commentator concluded.
Concluding its analysis, American Lawyer noted that in the two decades since the merger, WilmerHale has steadily increased its growth and consistently grabbed a top 50 spot in gross revenue.