Again in November 2025, Perkins Coie introduced its plans to mix with Ashurst, a transatlantic tie-up anticipated to propel the agency into the highest 20 of the Am Regulation 100. With the merger anticipated to shut someday within the third quarter, Perkins isn’t precisely having fun with a kumbaya second throughout the partnership. As an alternative, they’re voting with their feet — sources say the agency is leaking companions like a sieve, with recruiters circling like sharks and administration quietly floating retention bonuses to cease the bleeding.
In keeping with a number of recruiters and agency sources, “tons of Perkins companions” at the moment are in the marketplace, and at the very least 22 companions have already left the agency’s Seattle headquarters. In actual fact, as reported by the American Lawyer, one recruiter with shoppers in Seattle stated relatively bluntly of the state of affairs:
“We’re speaking to Perkins companions, and we’re going to be seeing extra defections. My sense is that the best way the merger was introduced was not very best; companions have been feeling like they weren’t given a alternative. It was extra like, ‘That is taking place, and it is advisable to be OK with that and get on board’ — not a lot of a dialogue.”
That theme — no buy-in, no actual session, no companion company — retains arising. One other recruiter was much more direct:
“[T]ons of Perkins companions are searching for jobs” if the merger with Ashurst goes by, and famous some have threatened to depart if the merger is finalized.
Internally, the resentment is even worse. One present Perkins companion didn’t mince phrases, calling the merger “a monumental f— up.” That companion claimed administration by no means meaningfully vetted the merger throughout the partnership and stated many would possible vote “no,” including that not like the merger between Hogan Lovells and Cadwalader, some Perkins companions see Ashurst as a model dilution. Even “lifers” on the Perkins are displeased, with the merger inspiring lateral “window purchasing” at different corporations.
In keeping with a number of sources, to cease the bleeding, Perkins is now exploring companion retention bonuses, reportedly structured as two-year contracts with clawbacks if companions go away early. As one supply put it, though bonuses haven’t been mentioned with companions, “the agency is critically eager about them.” One other supply stated the agency is “not proactively going out and making retention bonus gives to companions.” However sadly, these bonuses may actually turn out to be useful for the agency, as a result of in actuality, “There’s solely a lot hemorrhaging they’ll do earlier than the deal is off.”
The view on this potential merger from 30,000 ft is that some companions are so upset about how this deal was approached that they’re contemplating leaving — in the event that they haven’t already left. Perkins Coie appears to be coping with a companion confidence disaster, leaving the tie-up with Ashurst hanging within the steadiness. Sure, this mix should shut, and the press releases will after all sound optimistic, however on the within, it’s loads messier than it seems.
‘More Defections’? Perkins Partners Seek Alternative Options in Advance of Ashurst Merger [American Lawyer]
Earlier: Perkins Coie Faces Partner Run As Ashurst Merger Deal Nears
The Next Transatlantic Biglaw Heavyweight: Ashurst Ties The Knot With Perkins Coie
Staci Zaretsky is the managing editor of Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to email her with any suggestions, questions, feedback, or critiques. You may observe her on Bluesky, X/Twitter, and Threads, or join along with her on LinkedIn.
