London partners overlooked as A&O Shearman reveals post-merger leadership

London partners overlooked as A&O Shearman reveals post-merger leadership

Allen & Overy and Shearman & Sterling today announced (1 March) the names of the key leadership term that will head A&O Shearman once the $3.5bn merger completes on 1 May – with no UK-based partners making the line-up.

A&O’s current interim global managing partner and Middle East and Turkey regional managing partner Khalid Garousha has been elected senior partner of the combined firm. The managing partner role, meanwhile, has gone to current Paris managing partner Hervé Ekué.

Continue reading “London partners overlooked as A&O Shearman reveals post-merger leadership”

Partners vote yes on A&O Shearman – now they have to make it work

Partners vote yes on A&O Shearman – now they have to make it work

‘You’ve now got one more 64,000lb gorilla,’ said one former UK firm leader, in response to the news that the merger of Allen & Overy (A&O) and Shearman & Sterling will proceed.

On 13 October, the firms announced the end of partnership voting on the combination, with more than 99% of votes cast at each firm in favour. The firms are due to combine as A&O Shearman from May 2024 at the latest, creating ‘the first fully integrated global elite law firm’, with nearly 4,000 lawyers across 48 offices in 29 countries. Continue reading “Partners vote yes on A&O Shearman – now they have to make it work”

It’s a ‘yes’ from them – A&O and Shearman partners vote through landmark $3.5bn transatlantic deal

It’s a ‘yes’ from them – A&O and Shearman partners vote through landmark $3.5bn transatlantic deal

Allen & Overy (A&O) and Shearman & Sterling are set to go ahead with their transatlantic merger, after partners at both firms voted overwhelmingly in favour of the union, with support from more than 99% of votes cast at each firm.

Continue reading “It’s a ‘yes’ from them – A&O and Shearman partners vote through landmark $3.5bn transatlantic deal”

A&O Shearman merger vote to kick off this month as pensions issues overcome

A&O Shearman merger vote to kick off this month as pensions issues overcome

Allen & Overy and Shearman & Sterling today (18 September) announced that their respective partnerships will start voting on their proposed merger on 28 September, with the voting window to close on 13 October and results announced soon after. For the merger to be voted through, 75% of the partnerships will have to vote in favour of the deal.

‘Over the past few months, partners and teams from both firms have been meeting and building relationships, and the excitement about the opportunities for the merged firm is palpable’, said A&O senior partner Wim Dejonghe (pictured) in a statement. Continue reading “A&O Shearman merger vote to kick off this month as pensions issues overcome”

Economies of scale: Scottish consolidation escalates as Irwin Mitchell announces merger with WJM

Economies of scale: Scottish consolidation escalates as Irwin Mitchell announces merger with WJM

Just days after Scottish firms Morton Fraser and MacRoberts announced their intention to merge, Irwin Mitchell also unveiled plans to combine with Scottish firm Wright, Johnston & Mackenzie (WJM) in what appears to be the start of a Scottish consolidation movement.

While Irwin Mitchell already operates in Glasgow, focusing on banking and finance and personal injury, the merger with WJM would give it access to the corporate, private client, property, and asset management markets in Edinburgh, Dunfermline, Inverness and Dunblane. Continue reading “Economies of scale: Scottish consolidation escalates as Irwin Mitchell announces merger with WJM”

‘No-one has managed to build out of the key locations’: Eversheds’ Ranson discusses Asia strategy following KWM tie-up

‘No-one has managed to build out of the key locations’: Eversheds’ Ranson discusses Asia strategy following KWM tie-up

Following the announcement last week that Eversheds Sutherland has entered into a formal cooperation agreement with Chinese firm King & Wood Mallesons (KWM), Legal Business spoke to Eversheds’ chief executive officer Lee Ranson about the arrangement and the implications for both firms.

Under the terms of the deal, KWM will exclusively refer all its clients requiring legal advice in the UK, Europe, Middle East, Africa and South America to Eversheds, while Eversheds will refer all its international clients in need of PRC legal counsel solely to KWM. Continue reading “‘No-one has managed to build out of the key locations’: Eversheds’ Ranson discusses Asia strategy following KWM tie-up”

Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring

Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring

Following the announcement of the proposed A&O Shearman merger, news came that Shearman & Sterling had lost two partners to Ashurst in London, which leads the headline moves – dominated by energy and infrastructure hires – in recent weeks.

London-based Shearman partners Sanja Udovicic and Julia Derrick moved over to Ashurst to expand the firm’s global energy team. Continue reading “Departures from Shearman and Allen & Overy as merger is unveiled and energy dominates lateral hiring”

Getting its mojo back: How A&O Shearman could redefine the Magic Circle

Getting its mojo back: How A&O Shearman could redefine the Magic Circle

The proposed merger of A&O and Shearman & Sterling has got the market talking about the biggest news in the legal industry for decades. LB finds commentators sanguine on the deal – but management will have much work garnering partner support this summer ahead of the vote.

‘Allen & Overy and Shearman & Sterling to create the first fully integrated global elite law firm,’ proclaims the 21 May joint statement from the two firms, stating their intent to merge to create Allen Overy Shearman Sterling. Thankfully, the branding gurus also came up with the far snappier (and not quite so ampersand-devoid) A&O Shearman, ‘for short’. The combined firm would boast 3,900 lawyers across 49 offices and roughly $3.4bn in combined revenues. Continue reading “Getting its mojo back: How A&O Shearman could redefine the Magic Circle”

A&O Shearman is a marriage of necessity, not convenience – now to give the rainmakers the hard sell

A&O Shearman is a marriage of necessity, not convenience – now to give the rainmakers the hard sell

Easily the most enjoyable part about analysing the proposed merger of Allen & Overy and Shearman & Sterling has been hearing the reactions of leaders at peer firms around the City on the video featuring senior partners Wim Dejonghe and Adam Hakki on the new A&O Shearman website.

Hot-take reactions from the c-suite around the Square Mile have been telling and often amusing. Says one US firm leader: ‘It’s clearly not a merger, is it? It’s a takeover of Shearman by A&O, isn’t it?’ That is a point echoed by many, and it certainly does feel like A&O’s Dejonghe is in the driving seat of what is undeniably a very slick pitch, even if it does at times look like Hakki is in a hostage situation with Stockholm Syndrome.

Continue reading “A&O Shearman is a marriage of necessity, not convenience – now to give the rainmakers the hard sell”

Breaking: Allen & Overy and Shearman & Sterling announce merger

Breaking: Allen & Overy and Shearman & Sterling announce merger

In what the firms describe as ‘the first fully integrated global elite law firm’ Allen & Overy and Shearman & Sterling today (21 May) announced a planned merger to create a ‘unique global law firm’ named Allen Overy Shearman Sterling – A&O Shearman for short.

In a statement, the firms said: ‘This merger will combine two of the world’s most prestigious law firms, leaders in their respective markets, to create an integrated global elite firm. Continue reading “Breaking: Allen & Overy and Shearman & Sterling announce merger”