Opposite them, the New York-based Shearman & Sterling, despite a year marked by turbulence, contributed to this merger with a respectable 178 partners. This marks a striking development for Shearman, who recently faced a steady stream of attorney departures.
Turbulence in the Skies
The initial announcement of this monumental merger arrived in May, a pivotal moment in the legal landscape. Shearman had been navigating treacherous waters throughout the year, facing a tumultuous series of events that included the abrupt collapse of merger talks with Hogan Lovells. Furthermore, Shearman weathered two rounds of staff layoffs and an exodus of high-profile legal talents.
While Shearman was grappling with these challenges, Allen & Overy was setting its sights on expanding its presence within the United States, capitalizing on an opportunity to make strategic lateral hires.
Allen & Overy-Shearman Merger : A Steadfast Pursuit
The backdrop to this seismic merger includes Allen & Overy’s own ambitions. In September 2019, they had entertained merger discussions with O’Melveny & Myers LLP, only to see those hopes dashed. Yet, their commitment to exploring the prospect of strategic unions remained unswerving, setting the stage for this game-changing merger of giants.
