The partnerships at Allen & Overy and Shearman & Sterling have voted to merge the two law firms, thus creating the first fully integrated global elite law firm; the Luxembourg office will be integrated into the global network.
On Friday 13 October 2023, Allen & Overy and Shearman & Sterling announced their decision to merge to create A&O Shearman. More than 99% of the votes cast at each firm were in favour of the merger.
According to the two firms, this merger will see them "create an unparalleled firm with a forward-looking approach to delivering excellence and innovation for clients' most complex matters."
With a global, quality offering, A&O Shearman is said to be ideally placed to provide local and cross-border support to clients as they navigate an increasingly complex legal, regulatory and geopolitical environment. The firms will now embark on a period of active integration planning, while they work together toward final closing of the transaction, which is anticipated in or before May 2024.
Allen & Overy Luxembourg confirmed to Chronicle.lu that the Luxembourg office will ultimately be integrated into the global network, since the merger affects offices worldwide. Further details are expected to follow in the coming months.
Wim Dejonghe, Senior Partner at Allen & Overy, 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."
"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, preeminent in all our markets," Adam Hakki, Senior Partner at Shearman & Sterling, added. "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."
With combined experience advising many of the world's leading corporations and financial institutions, governments and governmental organisations, A&O Shearman has a "distinguished heritage", noted the two firms - reflecting Allen & Overy's roots as a City of London firm founded in 1930 and Shearman & Sterling's founding in New York City in 1873.
