As of May 1st, the legal world welcomes a new player into the scene – A&O Shearman. This freshly formed megafirm is the result of a union between Allen & Overy and Shearman & Sterling. The new firm touts quite impressive numbers, boasting a gross of $3.5 billion with almost 4,000 attorneys, of which 800 are partners. On the very first day of operations, the newly formed entity announced its board, executive committee members, and practice group leaders.
As reported by the American Lawyer, the majority of A&O Shearman’s leadership hails from Allen & Overy, with eight of the eleven board members and nine of the thirteen executive committee members being from the legacy firm. Two partners from Allen & Overy will serve as managing partners in the UK, and two partners from Shearman & Sterling will fill the same role in the U.S. Stakeholders from both legacy firms will co-lead or tri-lead the practice groups and geographies, favouring the firm that had more authority before the merger.
A&O Shearman envisages organizing its capabilities under four departments: corporate, finance, disputes, and projects/energy/infrastructure. Overall, it expects to have about 21 practice groups. Senior partner Khalid Garousha and U.S. chair Adam Hakki have made it clear that their ambition is to create an unsurpassed firm, excelling in U.S. and English law, with global depth and reach. They anticipate that most of A&O Shearman’s offices will be combined “by the end of this year.”
The board of A&O Shearman features Co-Chairs Khalid Garousha and Adam Hakki, amongst others. Meanwhile, its executive committee includes David Broadley, Denise Gibson, and David Lee, and more. Domain leadership will be helmed by lead partners focusing on various key areas such as Mergers and Acquisitions, Litigation and Investigations, and Antitrust.
Considering the resources at A&O Shearman’s disposal, the industry will closely watch this new player’s impact on the Biglaw market. Congratulations to A&O Shearman; may they seize their new beginnings to foster a transformative presence.