A&O Shearman

A&O Shearman (formerly Allen & Overy) is one of the UK’s leading firms and a member of the Magic Circle, the group of the five most prestigious law firms in the UK. The firm is frequently ranked among the top law firms globally.

Founded in 1930 by George Allen and Thomas Overy, the firm quickly distinguished itself in London and has since expanded to become a global powerhouse.

In May 2024, Allen & Overy merged with New York firm Shearman & Sterling in one of the most significant law firm combinations in decades. The newly merged firm created a global law firm with revenues of around $3.5bn and significantly boosted A&O’s capability in the US, which is the world's biggest market for legal services.

A&O Shearman operates 48 offices in 29 countries globally, employing over 4,000 lawyers, including more than 700 partners.

The firm is strong in a variety of practice areas but is best known for its work in banking, finance (especially capital markets), and big-ticket corporate/M&A. It is known for its prowess in handling large, cross-border transactions thanks to its extensive global footprint. A&O Shearman has offices in Europe, Asia, the Americas, and the Middle East.

Recently, A&O Shearman has also become a leader in legal technology and innovation. The firm has been at the forefront of the legal AI revolution, launching notable partnerships with generative AI solutions like Harvey. The firm also has its own AI contract drafting and negotiation tool known as ‘ContractMatrix’.

A&O Shearman makes our ranking of the UK's most prestigious law firms.

Other things to know

Merger with Shearman & Sterling: On 1 May 2024, Allen & Overy completed its merger with New York law firm Shearman & Sterling. The newly merged firm is known as ‘A&O Shearman’.‍

Partner Cuts: In September 2024, A&O said that it was planning to cut 10% of its partnership by the end of its financial year. The firm also announced the closure of its office in Johannesburg which was staffed by 32 lawyers, including 8 partners). The firm cited the completion of a “a broad strategic review” after its merger as the reason for the cuts.

Trainee turned tech entrepreneur: In August 2024, former A&O trainee Alexander Kardos-Nyheim sold the legal AI startup he founded (as a side project during his training contract at the firm) to Thomson Reuters for millions. You can read about his incredible story here.

What is A&O Shearman known for?

A&O Shearman is a corporate law firm advising corporations, financial institutions and governments across a broad range of practice areas. It's particularly known for its strengths in the following areas:

Banking and Finance: Along with capital markets, top-tier banking and finance advice remains A&O's strongest card. The firm is renowned for its expertise in complex financing arrangements, regulatory advice, and financial products, advising global financial institutions and corporations. The firm is ranked in Band 1 by Chambers for both its borrower-side and lender-side advice on big-ticket deals.

Corporate/M&A: Recognised for its role in high-profile, cross-border M&A transactions, offering high quality advice to corporates and private equity firms. A&O is ranked in Band 1 by Chambers for the highest-value M&A deals.

Capital Markets: Highly skilled in both debt and equity capital markets, advising issuers and underwriters on IPOs, bond offerings, derivatives and securitisations. The firm has a Band 1 ranking by Chambers for both ECM and DCM work.

What's Chambers?

We use Chambers rankings to demonstrate a firm's strengths. Chambers is the most highly-regarded provider of law firm rankings in the legal industry. Law firms are ranked in bands from 1 (highest) to 6 (lowest) across a range of practice areas.

It's important to note that being ranked in any band at all is still considered a significant achievement.

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Who does A&O Shearman compete with?

A&O Shearman competes directly with the rest of the Magic Circle for the biggest mandates. On the global stage, the firm competes with the biggest US players like Kirkland & Ellis, Skadden and Latham & Watkins.

A&O Shearman (in the final full financial year before its merger) is the 3rd biggest law firm in the UK by revenue. In 2024, its revenue was £2.2 billion.

In 2024, its profit per equity partner (PEP) was £2.2 million.

How much does a partner at A&O Shearman make?

In 2024, A&O Shearman’s average profit per equity partner (PEP) was £2.2 million.

This is the total amount of profit available for distribution among equity partners, divided by the number of equity partners at the firm.

This represents the average amount that equity partners are entitled to. Some will receive significantly more, some less. It depends on the firm’s profit-sharing formula and each partner’s seniority.

Salaried partners are not paid from profits.

How many trainees does A&O Shearman take?

A&O Shearman takes on around 80 trainees each year in London.

Trainees complete four seats in different departments, each lasting six months.