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Allen & Overy, Shearman & Sterling merger approved
The partnerships of Allen & Overy and Shearman & Sterling have “overwhelmingly” voted in favour of a merger between the two firms, which will create what the BigLaw practices say will be the “first fully integrated global elite law firm”.
Jerome Doraisamy
The proposed merger of Allen & Overy and Shearman & Sterling has been approved, with the partnerships of both firms having voted in favour of the creation of A&O Shearman.
Announced in late May of this year, the merger will, the two global practices said at the time, create a “firm unlike any other in the world” at a time when client demand for global elite firms “has never been greater”.
The firms are now set to embark on a period of active integration planning while they work together towards the final closing of the transaction, which is anticipated in or before May 2024.
The news also follows A&O’s recording £2.1 billion in revenue for the last financial year, a 7 per cent increase on the previous year.
A&O senior partner Wim Dejonghe said: “This is a historic moment for both firms and our profession.
“We are delighted that our partners have voted so resoundingly in favour of this merger, which is a transformational step for the legal industry.
“We have long admired Shearman & Sterling for its outstanding reputation, talent, and client base, and we are confident that together we will create a truly exceptional global firm that will serve our clients’ needs in an increasingly complex and dynamic world.”
And Shearman & Sterling senior partner Adam Hakki added: “Our partners have recognised and welcomed this unparalleled opportunity to combine our individual market leadership and brands to serve clients as an integrated global law firm, pre-eminent in all our markets.
“A&O Shearman will be a firm unlike any other in the world, built to achieve exceptional outcomes for our clients through an intentional focus on quality, excellence, and collaboration.
“We are creating a new industry leader with truly global capabilities, and we are excited for what is to come.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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