Welcome to A&O Shearman, the latest giant to join the ranks of Biglaw. In an announcement made earlier, it has been confirmed that after a two-week-long voting process, the partnerships of Allen & Overy and Shearman & Sterling have finally approved the proposed merger. The combined power of these firms will result in close to 4,000 lawyers and roughly 800 partners spread over 48 offices worldwide. A&O Shearman’s revenue is estimated to total around $3.5 billion. The American Lawyer indicates that A&O Shearman is on track to become the third-largest law firm globally.
A firm spokesperson stated that the merger received overwhelming support, with more than 99% of the votes from each firm favoring the consolidation. The firms published a joint press release where their respective leaders expressed their thoughts on the merger.
In the press release, Wim Dejonghe, Senior Partner at Allen & Overy, highlighted the historical significance of this merger, not only for both firms but also for the profession. He commented on how Shearman & Sterling had always been admired by Allen & Overy for its excellent reputation and impressive client base and expressed confidence that the new combined entity would offer unparalleled legal services in an increasingly dynamic world.
Echoing Dejonghe, Adam Hakki, Senior Partner at Shearman & Sterling, acknowledged that this merger offered an unparalleled opportunity to combine both firms’ market leadership and brands. He envisaged A&O Shearman as a unique law firm unlike any other, dedicated to achieving exceptional outcomes for their clients through a distinctive focus on quality, excellence, and collaboration.
With the merger now approved, A&O Shearman is expected to come into effect later this spring, possibly by May 2024.