Shearman M&A Work Grows Despite Layoffs, Leadership Upheaval (1)

Even as Shearman & Sterling battles through staff cuts, a leadership change and a failed tie-up, its mergers and acquisition practice is thriving.

The New York firm scored 47 deals worth $26.1 billion as principal adviser in the first quarter, ranking 11th among rivals, according to Bloomberg data. Last year the firm ranked 30th in the same period.

“We have consciously really doubled down on our public company M&A focus,” Scott Petepiece, the firm’s M&A practice leader, said in an interview. “We’re very active in the market in terms of what I would characterize as identifying new relationships.”

The practice ...