Allen & Overy and Shearman & Sterling said on Wednesday that they have completed their long-planned merger, officially launching the largest transatlantic law firm combination in years.
They said the union creates a firm with nearly 4,000 lawyers and 3,000 other employees across 47 offices, generating combined revenues of about $3.5 billion.
Leaders of the new firm, A&O Shearman, said they expect a smooth debut after nearly a year of preparations by London-founded Allen & Overy and its smaller counterpart Shearman & Sterling, which was among the top old-line New York law firms.
The merger "gives us a competitive advantage that neither firm had before," said New York-based Adam Hakki, who was appointed co-chair of the global A&O Shearman board and executive committee and chair of its U.S. business. Two top leaders of the combined firm both come from Allen & Overy — Hervé Ekué in Paris was elected as managing partner and Khalid Garousha in Abu Dhabi as senior partner.
Transatlantic mergers between such large, established firms have remained relatively rare even after decades of legal industry consolidation, stymied by factors such as client conflicts and mismatched rates and compensation.
Many of the examples below have become powerful global brands, though their growth has sometimes lagged that of the top U.S. firms that grew without a major merger.
DLA PIPER
DLA Piper was formed in 2005 through a merger of British firm DLA and U.S. firm Piper Rudnick Gray Cary, creating a law firm with 2,750 lawyers and generating $1.54 billion in revenue in its first year, according to the American Lawyer.
Those figured had increased to over 4,500 lawyers and $3.82 billion in revenue by 2023, the American Lawyer reported.
HOGAN LOVELLS
Washington, D.C.-based Hogan & Hartson and London-based Lovells merged in 2010 to form 2,500-lawyer Hogan Lovells, with reported combined revenue at the time of $1.9 billion. The firm now says it has more than 2,600 lawyers in more than 45 offices globally.
Hogan Lovells generated $2.68 billion in global revenue in 2023, in a year of record revenues and partner profits for the firm.
NORTON ROSE FULBRIGHT
In 2013, London-founded Norton Rose combined with Houston-based Fulbright & Jaworski to create roughly 3,800-lawyer Norton Rose Fulbright. The firm said at the time that it would have combined revenues of about $2 billion.
The firm currently has more than 3,000 lawyers, and in 2023 generated $2.26 billion in gross revenue, according to figures reported by the American Lawyer.
EVERSHEDS SUTHERLAND
Eversheds Sutherland was born out of a 2017 merger between London-based Eversheds and Atlanta-founded Sutherland Asbill & Brennan. The firms said at the time that they would have 2,300 lawyers combined, and their total revenue was about $800 million. The American Lawyer reported that Eversheds Sutherland had about 2,600 lawyers and revenue of about $1.4 billion last year.
WOMBLE BOND DICKINSON
North Carolina-based Womble Carlyle Sandridge & Rice combined with UK firm Bond Dickinson in 2017. The firms said at the time the merged firm would have more than 1,000 lawyers and over $410 million in combined revenues.
Womble Bond Dickinson says it currently maintains about 1,000 lawyers. It reported about $570.93 million in revenue for 2023, according to the American Lawyer rankings.
BRYAN CAVE LEIGHTON PAISNER
In 2018, St. Louis, Missouri-based Bryan Cave and London-based Berwin Leighton Paisner merged in a deal that they said would create a firm with about 1,600 lawyers and combined revenue of more than $900 million.
The firm now says it has more than 1,275 lawyers, with reported revenue of $840.26 million for 2023.
