In light of the rapidly changing coronavirus (COVID-19) situation, Troutman Sanders and Pepper Hamilton have postponed the effective date of their previously announced merger until July 1, 2020. The new firm – Troutman Pepper – will feature 1,100+ attorneys across 23 U.S. offices. Read more.
Thomas M. Gallagher, chair of the Executive Committee of Pepper Hamilton LLP, and Thomas J. Cole Jr., vice chair of the firm’s Executive Committee, were quoted in the March 5, 2020 The Legal Intelligencer article, "In Pursuit of Merger, Pepper Hamilton Delivered Another Year of RPL Gains."
“We did a lot of work,” said Tom Gallagher, the chair of Pepper Hamilton’s executive committee and soon-to-be vice chair of Troutman Pepper Hamilton Sanders when the merger becomes official next month. “Our preparation was so good that when we received calls, we were able to determine early on whether it was worth moving forward.”
Pepper Hamilton managing partner Tom Cole, who will also be managing partner of the combined firm, said leadership manages to compensation for all partners more than to PEP. CAP was up 6.2%, at $707,000.
Cole pointed to health sciences and IP litigation as strong practices in 2019. He pointed to a number of transactions as well, in the corporate practices.
Cole said that group brought its clients over, which may be unsurprising given that LeClairRyan closed its doors later in 2019, and the addition didn’t cost much to Pepper Hamilton beyond taking over the Rochester lease and basic integration expenses.
“They had practiced together many years,” Cole said of the lawyers who joined in Rochester. He would not say how much revenue their joining added to the firm, but he said their practice exceeded projected revenue for 2019.
But the bigger project in 2019 was readying the firm for the merger with Troutman Sanders, which it officially announced in January and which will go into effect April 1. When that happens, Gallagher said, some integration processes will remain, but the firm will come together with no changes to financial structure.
“The deal will be great for Pepper, and great for Philadelphia,” Gallagher said.