A&O Shearman is set to undergo significant restructuring, including a 10% reduction in its global partner count, the closure of its Johannesburg office, and the termination of its consulting business. This move comes just four months after the merger between Allen & Overy and Shearman & Sterling, which officially created A&O Shearman on May 1. The combined firm has around 800 partners globally, and the cuts, communicated internally, are expected to be implemented by the end of the firm’s financial year.
In a statement, Hervé Ekué, managing partner at A&O Shearman, described the restructuring as a “difficult but necessary step forward,” emphasizing the firm’s gratitude towards the departing partners and affected staff. The Johannesburg office, which opened in 2014, will see around 80 lawyers and staff impacted by its closure. Meanwhile, the shuttering of the consulting business will affect approximately 30 lawyers and staff. For more details, read the full article on Bloomberg Law.
Notably, some long-tenured partners have already left the firm since the merger. In August, A&O Shearman’s private equity partner Gordon Milne joined Davis Polk & Wardwell in London. The firm is attempting to rebuild in this vital practice area, recently recruiting Sidley Austin partners Dan Graham and Paul Dunbar.