Will This Megamerger Become A Biglaw 'Breakthrough' For The Magic Circle?
If they can get over the partner pay hurdle, things may work out for this merger.
Ed. note: Welcome to our daily feature, Quote of the Day.
The Magic Circle firms have been trying to break through in the US for years. Provided A&O gets a deal done that works, this is a breakthrough.
— Scott Gibson, a legal recruiter at London’s Edwards Gibson, in comments given to Bloomberg Law on the planned merger between Magic Circle firm Allen & Overy and Am Law 100 firm Shearman & Sterling. The merged firm will have 3,900 lawyers (with ~800 partners) spread across 49 offices, and a combined total revenue of $3.4 billion. Gibson said A&O partners “may have to do some compromising, including on how much the UK lawyers might have to pay to keep the US lawyers.”
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
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