A&O Partners Earned £2.2 Million Year Ahead of Shearman Merger

Allen & Overy reported higher revenue and profits last year, ahead of the UK Magic Circle firm’s merger with US firm Shearman & Sterling.

A&O partners took home an average of £2.2 million ($2.7 million), up more than 20% from £1.82 million ($2.2 million) the previous year. Client revenue rose 3.4% to £2.2 billion ($2.7 billion) and the firm’s pre-tax profit grew 17.2% to £1 billion ($1.3 billion).

A boost in the firm’s results can be attributed partially to the sale of its legal technology unit aosphere to private equity firm Inflexion and investment firm Endicott Capital in October.

Allen ...