A&O Shearman, the global law firm formed from the merger of Allen & Overy and Shearman & Sterling, has reported client revenues of £2.9 billion ($3.7 billion) for the financial year ending April 30, 2025. This marks the firm’s first financial results since the merger’s completion in May 2024. The firm also recorded a pre-tax profit of £1.1 billion ($1.4 billion) and a profit per equity partner (PEP) of £2 million ($2.6 million). ([reuters.com](https://www.reuters.com/legal/legalindustry/law-firm-ao-shearman-posts-37-bln-revenues-first-year-after-merger-2025-08-21/?utm_source=openai))
The merger, finalized on May 1, 2024, created one of the world’s largest transatlantic law firms, comprising nearly 4,000 lawyers and approximately 800 partners across 49 offices. ([irishlegal.com](https://www.irishlegal.com/articles/ao-shearman-records-eur34bn-turnover-in-first-year-of-merger?utm_source=openai)) This combination has positioned A&O Shearman as the fourth-largest law firm globally by revenue.
In its inaugural year, A&O Shearman advised on several significant transactions, including Liberty Global’s $3.2 billion spin-off and dual listing of Swiss telecoms operator Sunrise, and Prosus’s €4.1 billion acquisition of Just Eat Takeaway.com. ([aoshearman.com](https://www.aoshearman.com/en/news/ao-shearman-posts-usd3-7bn-revenue-marking-strong-first-year?utm_source=openai))
The firm has also been recognized for its commitment to pro bono work, delivering nearly 120,000 hours in the fiscal year. ([reuters.com](https://www.reuters.com/legal/legalindustry/law-firm-ao-shearman-posts-37-bln-revenues-first-year-after-merger-2025-08-21/?utm_source=openai))
In September 2024, A&O Shearman announced a 10% reduction in its partnership and the closure of its Johannesburg office by the end of 2024 as part of post-merger restructuring efforts. ([reuters.com](https://www.reuters.com/legal/legalindustry/law-firm-ao-shearman-trim-partnership-by-10-post-merger-cuts-2024-09-06/?utm_source=openai))
The firm’s financial performance aligns with a broader trend among major London-based law firms reporting record revenues. For instance, Clifford Chance reported its highest-ever revenue and profits, with U.S. revenue up 18%, while Linklaters generated record results, buoyed by a 57% increase in U.S. profits. ([reuters.com](https://www.reuters.com/legal/legalindustry/law-firm-ao-shearman-posts-37-bln-revenues-first-year-after-merger-2025-08-21/?utm_source=openai))
A&O Shearman’s results reflect the firm’s strategic focus on cross-border collaboration, investment in high-growth industries, and commitment to innovation, including the deployment of generative AI technologies like Harvey. ([aoshearman.com](https://www.aoshearman.com/en/news/ao-shearman-posts-usd3-7bn-revenue-marking-strong-first-year?utm_source=openai))
As the firm enters its second year post-merger, it continues to build on its integrated global partnership, aiming to deliver seamless services across markets and industries.