Allen & Overy elected 32 partners and Shearman & Sterling elected eight partners ahead of their merger, which is scheduled to close on May 1, the firms announced Monday.
The promotions included 13 partners in the U.S., nine in the U.K., 13 across Europe, four in Asia and one in the Middle East. A bulk of the partners practice in litigation, banking or corporate.
“I am also pleased that 42% of those promoted across both firms are women, in line with our goal of increasing diversity,” said Khalid Garousha, interim managing partner at A&O in a statement. “These partners will bring a wealth of expertise to our soon-to-be merged firm, providing exceptional service to our clients in the world’s most dynamic markets.”
The partner additions will bulk up the ranks of the combined firm, which has lost several partners in the months following news of the merger. About 9% of Shearman’s partnership, or more than 30 partners, departed, according to data from Pirical. A bulk of those departures were outside the U.S.
The two firms have retained top lawyers by offering forgivable loans to equity partners, according to a person familiar with the matter. A&O Shearman will be among the world’s 10 largest law firms when the merger closes in May.
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