Allen & Overy and Shearman & Sterling have announced a planned merger to create a global law firm named Allen Overy Shearman Sterling (A&O Shearman).
Together A&O Shearman will have ~3,900 lawyers and ~800 partners across 49 offices.
Allen & Overy and Shearman & Sterling have complementary market and clients. The companies stated that this merger will “transform their offering to clients” with Shearman & Sterling gaining “access to a dramatically expanded ‘rest of the world’ offering across practice areas”, while Allen & Overy will benefit from “increased board-level recognition and expanded access to a corporate client base in the US”.
The combined firm, the company states, will be “perfectly positioned to capitalize on global macro trends including energy transition, technology, and private capital”.
Wim Dejonghe, senior partner at Allen & Overy, described the combination as an “exciting step” that will benefit clients, while noting the striking similarities and complementary cultures of the two firms.
Adam Hakki, senior partner at Shearman & Sterling, said that the merger was ideally timed since client need for global elite firms has “never been greater”. Hakki said that clients were calling for integrated global legal solutions and advice: “Merging with Allen & Overy will dramatically accelerate our ability to meet their needs in an increasingly complex environment. Allen & Overy is an outstanding firm whose work we have long admired and thought of as a kindred spirit. We have both always placed great emphasis on attracting and retaining top talent, were early to globalise, and are relentlessly focused on quality, excellence, and collaboration.”
The proposed merger is subject to customary closing conditions, including a vote of the partners of each of the respective firms.