Posted on November 25, 2009 at 12:11 AM
Lovells and Hogan & Hartson have chosen to rebrand as Hogan Lovells if partners at both firms approve of the merger deal, as a document containing information about the merger sent to partners earlier this month stated. The document also stated that the merged firm will have operational centers in London and Washington D.C. instead of choosing to have a single base.
The merged firm will be led by Lovells managing partner David Harris and Hogan chairman Warren Gorrell, and they will be co-chief executives for a four-year term until 2014. Lovells senior partner John Young and an undecided Hogan partner will take the title of co-chair.
The new management will consist of a ten member board with an international management committee, and both will have equal representation from Lovells and Hogan. The firm will also keep Lovells’s practice group and practice stream structure.
The new pay system will be a merit-based point system like Hogan’s and not a lockstep like Lovells’s is with be an added performance-based bonus. Lovells had been moving in the direction for a performance-related bonus for partners before the merger discussions began.
Lovells partners will talk about the merger in detail at their annual partnership conference in Lisbon later this week. If the merger is approved, it will occur on May 1, 2010.
While Lovells declined to comment, a spokesperson stated: "We have now submitted documents on the proposal to partners. We have previously said that we feel there is a strong business rationale for merger, but we are committed to having discussions about the future of our firm among our partners. As a result we will not be commenting on any of the specifics of the proposed merger at this time.
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