Shearman & Sterling office entrance in Manhattan, New York. Photo: Ryland West/ALM To Secure A&O Merger, Some Shearman Partners Agreed to 50% Pension Cut
"It was clear that if we didn't approve the pension, the [Allen & Overy] deal wasn't going to go through," a retired Shearman partner said.
December 11, 2023 at 05:00 AM
6 minute read
Law Firm Management
The original version of this story was published on The American Lawyer
Partners at Allen & Overy and Shearman & Sterling voted in September to merge, but the work for approval by firm leaders was done months before, when Shearman pensioners were approached about a significant haircut.
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