A&O Shearman

A&O Shearman is a multinational commercial law firm established on 1 May 2024 through the combination of Allen & Overy, a major United Kingdom firm commonly associated with the Magic Circle, and Shearman & Sterling, a long-established United States firm with a strong international corporate and financial-law practice. The merger created a new global legal-services platform operating under a combined name that preserves recognizable elements of both predecessor brands. The firm advises corporations, financial institutions, investment funds, governments and other institutional clients. Its principal practices include mergers and acquisitions, private equity, equity and debt capital markets, banking and finance, structured finance, project finance, infrastructure, energy, competition law, tax, financial regulation, investigations, commercial litigation and international arbitration. Much of its value proposition is based on coordinating complex matters across multiple jurisdictions, particularly transactions involving Europe, the United States, Asia, the Middle East and other major commercial centres. The combination was announced in May 2023 and approved by more than 99 percent of the partners of both predecessor firms in October 2023. It completed in May 2024. Public descriptions of the combined organisation have cited approximately 4,000 lawyers and 49 offices, while reported combined revenue was approximately $3.4 billion around the time of the merger. These figures are time-specific estimates rather than permanent characteristics of the brand. A&O Shearman is a professional-services brand rather than a consumer product brand. Its reputation is built on legal expertise, international reach, institutional relationships and the ability to manage large, highly regulated or cross-border matters. The merger was intended to strengthen Allen & Overy's United States coverage and combine it with Shearman & Sterling's established American and international transactional capabilities. In September 2024, the firm said it would close its South African offices and serve Sub-Saharan African clients from other global locations. The firm has also faced public scrutiny over a 2025 agreement involving pro bono work connected with causes endorsed by the second Trump administration.

A&O Shearman was formed from the merger of Allen & Overy and Shearman & Sterling. Allen & Overy was a leading United Kingdom international firm with established practices in banking, finance, capital markets and cross-border corporate transactions. Shearman & Sterling was a historic United States firm whose international work included corporate transactions, securities, project finance and disputes. Their combination sought to unite complementary geographic coverage and create a larger platform for clients requiring coordinated advice across major financial and commercial jurisdictions. The merger terms were announced on 21 May 2023. The proposal required approval from the partners of both firms and preparation for the operational integration of their businesses, offices, technology, client relationships and professional teams. On 13 October 2023, more than 99 percent of partners at each predecessor firm approved the transaction. The merger completed on 1 May 2024, when the combined organisation began using the A&O Shearman name. At launch, public descriptions characterized the firm as having nearly 4,000 attorneys across 49 offices and combined revenue of approximately $3.4 billion. Such figures reflected the scale of the two predecessor organisations at the time of combination. The merger was widely presented as a way to expand the firms' ability to serve multinational companies, financial institutions, private-equity investors, governments and other large institutional clients through a more integrated international network. The post-merger firm's work spans transactional, advisory and contentious services. Its corporate practice handles acquisitions, disposals, joint ventures, restructurings and private-equity matters. Its financial practices cover lending, structured finance, project finance, capital markets and financial regulation. Other major areas include energy and infrastructure, competition, tax, investigations, litigation and international arbitration. The firm's business model depends on partner-led professional advice and coordinated work among lawyers admitted in different jurisdictions, rather than on standardized consumer products. The integration also involved strategic choices about the geographic network. In September 2024, A&O Shearman announced that it would close its South African offices and support Sub-Saharan African clients from other offices. In January 2025, 57 former members of the South African practice, including 14 partners, joined Bowmans. These developments illustrated that the combined firm continued to adjust its network after the formal merger. In 2025, the firm's United States practice agreed to a deal with President Donald Trump amid the second Trump administration's actions targeting law firms and lawyers. Under the arrangement, A&O Shearman committed to provide $125 million in pro bono legal work for causes endorsed by Trump. The agreement became a matter of public controversy because it raised questions about government leverage over private law firms, professional independence and the relationship between pro bono commitments and political authority. The brand's longer-term strategic and reputational consequences remain subject to development.

1. 2025South African team moves to Bowmans

   Fifty-seven former members of the South African practice, including 14 partners, joined Bowmans.

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2. 2024A&O Shearman launches

   The merger completed on 1 May 2024, creating the A&O Shearman brand and combined firm.

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3. 2024New senior and managing partners elected

   Khalid Garousha became senior partner and Hervé Ekué became managing partner following completion of the merger.

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4. 2024South African office closures announced

   The firm announced a plan to close its South African offices and serve Sub-Saharan African clients through other offices.

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5. 2023Merger terms announced

   Allen & Overy and Shearman & Sterling announced the terms of their proposed combination on 21 May 2023.

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6. 2023Partner approval obtained

   More than 99 percent of the partners at both firms approved the merger on 13 October 2023.

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A global full-service commercial law firm for multinational companies, financial institutions, investors, governments and other sophisticated institutional clients.

• Mergers and acquisitionsLegal services2024

  Advice on public and private acquisitions, disposals, mergers, joint ventures, corporate reorganizations and other strategic transactions. The practice is designed for matters requiring coordination among lawyers in several jurisdictions and often works with boards, management teams, financial advisers, private-equity sponsors and lenders.

• Capital marketsLegal services2024

  Legal advice for issuers, underwriters, sponsors, investors and financial institutions involved in equity offerings, debt issuance, securitization and related securities matters. Work may include transaction structuring, disclosure, listing requirements, regulatory compliance and cross-border offerings.

• Banking and financeLegal services2024

  Advice on lending, acquisition finance, leveraged finance, structured finance, derivatives, asset finance, project finance and other financial arrangements. The practice serves banks, borrowers, sponsors, funds and investors on both transactional execution and financial-regulatory issues.

• Projects, energy and infrastructureLegal services2024

  Legal support for the development, financing, acquisition, construction and operation of infrastructure and energy assets. Matters can involve public-private partnerships, power projects, transport, telecommunications, natural resources, renewable energy and complex multi-party contractual arrangements.

• Dispute resolutionLegal services2024

  Representation and strategic advice in commercial litigation, investor-state and commercial arbitration, investigations and other contentious matters. The offering addresses disputes involving corporations, financial institutions, governments and other institutions, including cases spanning multiple legal systems.

• Competition, tax and regulationLegal services2024

  Advisory work concerning antitrust and merger control, tax structuring and disputes, financial regulation, sanctions, compliance, investigations and other public-law requirements. These practices support clients undertaking transactions or operating in heavily regulated industries and markets.

• 2025Agree to a Trump-linked pro bono commitmentOther

  The decision occurred amid the second Trump administration's pressure on law firms and lawyers.

  What changed. The United States practice agreed to provide $125 million in pro bono legal work for causes endorsed by President Donald Trump.

  Aftermath. The agreement prompted public controversy and scrutiny concerning law-firm independence and the effect of government pressure on private legal practices.

  Pro bono commitment. $125 million (2025 agreement)

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• 2024Close South African officesStrategy

  Following the merger, the firm reviewed its geographic network and decided to change how it served Sub-Saharan African clients.

  What changed. A&O Shearman announced that it would shut its South African offices and support clients in the region from other global offices.

  Aftermath. In January 2025, 57 former members of the South African practice, including 14 partners, joined Bowmans.

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• 2023Combine Allen & Overy with Shearman & SterlingM&A

  The two firms sought to combine their international networks and complementary strengths in United States, European, Asian and other cross-border legal markets.

  What changed. They announced merger terms, obtained partner approval and prepared to operate as a single firm under the A&O Shearman name.

  Aftermath. The merger completed on 1 May 2024 and created a multinational law firm reported at launch to have nearly 4,000 lawyers across 49 offices.

  Combined revenue. $3.4 billion (Reported around the 2024 merger launch)

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• 2025Agreement involving Trump-endorsed pro bono workControversy

  A&O Shearman's United States practice agreed to provide $125 million in pro bono legal work for causes endorsed by President Donald Trump during a period in which the administration targeted law firms and lawyers. The arrangement drew controversy over professional independence, government pressure and the boundaries of politically connected pro bono commitments.

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• 2025Former South African lawyers join Bowmans

  Fifty-seven former A&O Shearman lawyers in South Africa, including 14 partners, joined Bowmans after the office closures.

  Leadership changeOther
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• 2024A&O Shearman begins operating after merger completion

  The merger completed on 1 May 2024 and the combined firm began operating under the A&O Shearman name.

  M&ALeadership change
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• 2024A&O Shearman announces closure of South African offices

  The firm announced that it would close its South African offices and support Sub-Saharan African clients from its other international offices.

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• 2023Allen & Overy and Shearman & Sterling announce merger terms

  The two firms announced the terms of a combination intended to create a major multinational commercial law firm.

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• 2023Partners approve the Allen & Overy and Shearman & Sterling combination

  More than 99 percent of partners at both predecessor firms approved the proposed merger.

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1. A&O Shearman
2. Our combination
3. Allen & Overy and Shearman & Sterling complete merger