In recent news, Allen & Overy’s global managing partner, Gareth Price, has made the decision to step down due to personal reasons. This report was part of the firm’s latest financial results announcement. It’s worth noting, Price was at the firm for a tenure of three decades, with the final three years served as the managing partner. Read more from Law.com here.
Alongside Price’s departure, Allen & Overy unveiled a revenue surpassing £2 billion, despite an acknowledged drop in profits per equity partner. This financial development coincides with the firm gearing up to vote on a widely-anticipated merger with Shearman & Sterling in the coming summer months.