In 'difficult but necessary step forward,' merged law firm trims 10% of equity partnership
A&O Shearman is cutting 10% of its global equity partners, closing its Johannesburg office in South Africa and terminating its consulting business. (Image from Shutterstock)
A&O Shearman is cutting 10% of its global equity partners, closing its Johannesburg office in South Africa and terminating its consulting business, multiple legal publications are reporting.
The changes follow the May 1 completion of the merger between Allen & Overy and Shearman & Sterling, report Bloomberg Law, Law.com (via Above the Law) and Reuters. The combined firm had about 800 partners.
The partner cuts will take place by the end of the merged firm’s fiscal year in April 2025, according to Reuters. The Johannesburg office and consulting firm will close by the end of the calendar year, according to Law.com.
The closing of the Johannesburg office and the consulting practice affects about 115 positions, including eight partners and 24 other lawyers listed on the website, according to Law.com.
“As one would expect from a newly merged business, we are actively engaged in post-merger integration,” said Hervé Ekué, A&O Shearman’s managing partner, in a statement to the publications.
He said the firm is focusing on “unleashing the full potential of A&O Shearman to strengthen our value proposition and better serve our clients.”
“We never take decisions like this lightly, particularly when they affect our people,” Ekué said. “We are very grateful to the partners who will be leaving the firm, as well as to our teams in Johannesburg and consulting for their contributions over the years. This is a difficult but necessary step forward.”
