Drinker Biddle & Reath, a Philadelphia-based law firm with offices in Princeton and Florham Park, and Faegre Baker Daniels, a Top 75 international law firm, are merging in a move that is anticipated to create one of the nation’s Top 50 largest law firms.
The combined company, which will begin operating as Faegre Drinker Biddle & Reathe on Feb. 1, 2020, has projected gross revenues of $1 billion and will have more than 1,300 employees in 22 offices across the U.S., China and the United Kingdom.
The new firm will focus on four practice areas, including corporate, business litigation, product liability and intellectual property. The corporate and business litigation teams will each include more than 200 attorneys, and product liability and intellectual property will have 150. The firm will also have new capabilities in employee benefits, finance and restructuring, government advocacy, health, insurance, investment management, labor and employment, private client, and real estate.
The combined firm will be co-chaired by Drinker Biddle’s Andy Kassner, chairman and CEO, and FaegreBD’s Tom Froehle, chair and managing partner.
“Faegre Baker Daniels’ growth strategy has always focused on attracting and retaining top talent, and providing the counsel and collaboration required to help our clients meet their business objectives,” Froehle said. “We believe that a combination with Drinker Biddle advances these objectives for our firm, and we look forward to sharing the enhanced capabilities of a combined platform with our clients.”
Faegre Baker Daniels Consulting, the advisory and advocacy arm of FaegreBD based in Washington, D.C., will become Faegre Drinker Consulting. Drinker Biddle’s ancillary businesses, Tritura Information Governance, Innovative Health Strategies, and its government advocacy arm, The District Policy Group, will become part of the new firm’s offerings.
“The combination expands our geographic reach, enhances our key practices and provides us with Am Law 50 strength and scale, enabling both firms to do even more for our clients. And most importantly, Faegre Baker Daniels shares a similar culture that values a true partnership with the overarching principles of civility, collegiality, respect and diversity,” Kassner said.
The firm’s executive leadership will include FaegreBD partners David Barrett, Gina Kastel and Jack Sperber; Drinker Biddle partners Bill Connolly and Judy Reich; and Jane Koehl, chief operating officer at Drinker Biddle, who will continue as COO of the combined firm.
“This strategic combination allows us to stay true to our shared values while leveraging the considerable resources of the new firm to deliver to clients the sophisticated solutions and exceptional service that they expect. The broader platform will accelerate our investments in talent, technology and innovation to provide improved service and greater value to clients,” Froehle and Kassner said in a joint statement.
