Miguel Zaldivar, who has been reelected to lead Hogan Lovells until 2028, recently confirmed that he plans to boost the firm’s growth through lateral acquisitions in major U.S. markets and by maintaining its presence in China, notwithstanding the retreat of various competitors from the region. Zaldivar’s decision was conveyed in the wake of the firm’s failed merger discussions with Shearman & Sterling earlier this year. The CEO further revealed that the prospect of merging with a similar high-calibre firm remains open, giving rise to intense speculation within industry circles.
However, Zaldivar has set the bar high for potential merger partners. In a direct address, he stated, “I don’t want to talk to firms that have huge pension commitments or revenue drops because of partner departures or that are suffering in branding recognition. We would like to be opportunistic and associate ourselves with winners”. This firmly underscores his uncompromising criteria for any prospective collaboration.
The growth strategy thus outlined by Zaldivar pinpoints key areas where Hogan Lovells aims to broaden its scope and influence, aspiring for a more robust expansion in the U.S. markets and a steady foothold in the increasingly challenging Chinese market.
The legal fraternity awaits the unfolding of these events as they could potentially reshape the landscape of major legal associations in the near future. For further insights, the complete remarks of Miguel Zaldivar can be accessed here.