The merger will be decided by the partners of both firms and will result in the creation of the third largest law firm with revenues totaling approximately $3.4 billion. The new firm, Allen Overy Shearman Sterling (or A&O Shearman), will have 3,9000 lawyers in 49 offices with equal expertise in US, English, and local law.
Combining the firms is expected to accelerate growth strategies for both. Shearman & sterling will have access to a worldwide network of practices while Allen & Overy gains expanded access to a US corporate client base.
We are excited to be combining two of the best firms in the world,” said Wim dejonghe senior partner of Allen & Overy. We have listened carefully to our clients’ requests to provide the best possible advice in order to navigate their demands and do so in a global and integrated way .”
Adam Hakki senior partner at Shearman & Sterling also praised the merger. This is a truly game-changing merger for both firms, which will result in an unmatched offering for clients. This is a great opportunity for our staff to be a part of an institution that has such importance and a transformational transaction. We look forward to bringing on even more talent in the future,” he added.