Canadian market wakes up as five firms merge

Five Canadian law firms have merged to create the country's second largest firm, Borden Ladner Gervais, with nearly 600 lawyers. The new entity brings together members from each of Canada's important financial centres. Borden & Elliot, the largest, is based in Toronto, McMaster Gervais in Montreal, Scott & Aylen in Ottowa, Ladner Downs in Vancouver and Howard, Mackie in Calgary. The new firm came into existence on March 1.