It could be nothing less than the start of a paradigm shift in the structure of the international legal services industry.

Last night, US firm Hogan & Hartson and UK firm Lovells announced that partners had voted in favour of the two firms merging, thereby creating as soon as 1 May 2010 a combined firm that will rank within the world’s top ten. With revenues of around US$1.8bn, 2,500 lawyers, and more than 40 offices through Europe, Asia, the Middle East, and Latin America, the new entity should have enough fire power to more than furrow the brows of the strategists at Bakers and Clifford Chance.

The PR machines at the respective firms have billed the move as the “first transatlantic merger of equals" and “a progressive response to the increasing need by large multinational clients for high-quality legal advice on complex, cross-border transactions, disputes and commercial matters”.

But more interestingly for long-time Beijing chiefs Robert Lewis (Lovells), Jun Wei (Hogan) and Steve Robinson (Hogan), a specific mention was made of the importance of the PRC as an impetus for the merger: the merger also reflected “the increased emphasis on regulation in the global market place and the complex legal issues involved, in the US and European Union markets particularly but also in other markets such as China,” said the firms.

The new firm, perhaps to the chagrin of one Nelson T Hartson who founded the firm’s business practice back in 1925, will be referred to as ‘Hogan Lovells’. It will be jointly led by current Hogan & Hartson chairman Warren Gorrell and Lovells managing partner David Harris as co-CEOs.

ALB will be providing exclusive insight into the Asia-Pacific aspects of the merger later today on this website.

Lovells + Hogan & Hartson in Asia & the Middle East

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• Latest update: The Hogan-Lovells merger: Asia a major factor