We are advising Cadwalader on the largest law firm combination in history

Davis Polk is advising Cadwalader, Wickersham & Taft on its combination with Hogan Lovells to create Hogan Lovells Cadwalader. The proposed combination is subject to customary closing conditions, including a vote by the partners of each firm to be held in 2026.

Cadwalader is Wall Street’s oldest law firm, with long-standing relationships with a range of blue-chip clients, including many of the world’s leading financial institutions and providers of private capital. Hogan Lovells is a global leader in advising clients in highly regulated sectors operating across G20 markets.

This will be the largest law firm combination in history, creating the world’s fifth largest firm by revenue, with annual revenue in excess of $3.6 billion based on 2024 performance. The combined firm’s revenue will be balanced across premier legal markets on both sides of the Atlantic. 

With 3,100 world-class lawyers across the Americas, EMEA and APAC, the combined firm will serve clients in every major financial market. Hogan Lovells Cadwalader will have strengths across finance, corporate, regulatory, IP and disputes, positioning the combined firm to represent the world’s leading financial institutions, multinational corporations, private capital funds and sovereign entities on their highest-value strategic challenges.

The Davis Polk corporate team is led by chair and managing partner Neil Barr and partner Lee Hochbaum. Partner Jennifer S. Conway is providing executive compensation advice. Partner Michael Mollerus is providing tax advice. Partner Howard Shelanski is providing antitrust advice. Partner Michael S. Flynn is also advising with respect to certain matters. Members of the Davis Polk team are based in the New York and Washington DC offices.

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