Two boutique Washington law firms that represent financial institutions have announced a merger effective January 1. Silver, Freedman & Taff (SFT) will merge with Elias, Matz, Tiernan & Herrick (EMTH) to form Silver, Freedman, Taff & Tiernan, wrote The Washington Post.
SFT was founded in 1971 and currently employs 15 lawyers. The firm represents savings institutions, commercial banks, credit unions, and trust companies. EMTH was also founded in 1971 and has 11 lawyers at present. The said firm represents private equity funds and financial institutions in initial public offerings, mutual to stock conversions, and debt financing, the report detailed.
The combined law firm will have represented issuers and underwriters in over 1,000 securities offerings raising more than USD40 million. In addition, the said firm will have represented buyers and sellers in 800 acquisition transactions worth USD50 billion, the report stated.
Law firm mergers have soared in 2013 as the legal industry continues to seek ways to grow amid low demand for legal services, The Washington Post reported.
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