Shearman & Sterling

Shearman & Sterling
Company type	Law firm
Industry	Legal services
Founded	1873; 153 years ago
Founder	Thomas G. Shearman, John William Sterling
Defunct	May 1, 2024
Fate	Merged with Allen & Overy to create A&O Shearman
Headquarters	New York City, United States
Area served	Global
Key people	Adam Hakki (co-managing partner of merged entity as of 2025)
Number of employees	Over 4,000 (combined entity) (2024)
Website	www.shearman.com

Shearman & Sterling was a prestigious white shoe global law firm based in New York City, United States. In 2024, it combined with Allen & Overy to create A&O Shearman.

Origins on Wall Street

Established in 1873 by Thomas G. Shearman and John William Sterling, the firm focused on both litigation and transactional legal services. Its early clientele featured prominent figures such as financier Jay Gould and industrialist Henry Ford, fostering influential connections with the Rockefeller family and precursor financial institutions to Citigroup and Deutsche Bank.

Post-World War II international growth

Led by senior partner Boykin C. Wright, the firm pursued international expansion following World War II, inaugurating its first foreign office in Paris in 1963. Partner Fredrick McCurdy Eaton acted as the U.S. chief negotiator for the 1960 Nuclear Ten Nation Committee on Disarmament and held the senior partner position from 1964 to 1975.

Shearman & Sterling assisted German companies such as Siemens and BASF with debt restructuring initiatives and played a pivotal role in Daimler's 1993 listing on the New York Stock Exchange—the first German firm to do so. The firm subsequently provided counsel to Daimler during its acquisition and divestiture of Chrysler. It sustains a substantial footprint in Germany and runs one of the largest London offices among foreign law firms.

The firm was instrumental in founding state-owned oil and gas enterprises like Sonatrach in Algeria as well as others throughout the Middle East. In 1979, it represented Citibank amid negotiations related to the Iranian Hostage Crisis following U.S. asset freezes.

During the 1980s, Shearman & Sterling advised on Latin American debt restructurings via Brady bonds and led transactions involving privatization of government-owned companies. Its São Paulo office, established in 2004, caters to Brazilian clients engaged in significant deals.

Anticipating the strategic importance of the Asia-Pacific region early on, the firm launched offices in Hong Kong (1978), Tokyo, Beijing, Singapore, and Shanghai. In 2018, it secured authorization to open an office in Seoul, headed by partner Anna Chung from Singapore.

Domestic growth in the 21st century

Shearman & Sterling broadened its U.S. presence by opening offices in Austin and Houston in early 2018. On May 21, 2023, it announced a merger with UK Magic Circle member Allen & Overy, forming A&O Shearman—a $3.5 billion entity employing over 4,000 lawyers across 49 locations worldwide. The merger was finalized on May 1, 2024. In April 2025, Adam Hakki was appointed co-managing partner of the merged organization.

Noteworthy clients and transactions

CVS Health in its $69 billion purchase of health insurer Aetna
Electronic Arts regarding a $1 billion senior notes public offering
WebMD during its $2.8 billion sale to Internet Brands, part of Kohlberg Kravis Roberts’ portfolio
Salesforce for its $2.8 billion acquisition of cloud-based e-commerce platform Demandware
The Republic of Lithuania as respondent in a $110 million ICSID arbitration initiated by Veolia
Dow Chemical Company concerning its $4.6 billion spin-off of Dow Chlorine Products Business alongside a debt-for-debt exchange
Credit Suisse defending against class action suits alleging IPO price manipulation
General Electric for its $32 billion acquisition of Baker Hughes and integration with GE Oil & Gas
JPMorgan Chase acting as lead arranger for €5.45 billion financing related to Pirelli
Qatar Investment Authority involved in an investment valued up to $8.6 billion upon completion at Manhattan West
Sony, part of a consortium acquiring Nortel’s patent portfolio for $4.5 billion
Boston Scientific on the $1.5 billion divestiture of its Neurovascular Business to Stryker Corporation
Bank of America connected to a $3.1 billion financing supporting Amgen’s $10.5 billion acquisition of Onyx Pharmaceuticals
John Deere advising on restructuring its international operations
David Karp, Tumblr’s founder and CEO, regarding employment and tax matters during Tumblr’s $1.1 billion sale to Yahoo!
Synthes during its $21.3 billion acquisition by Johnson & Johnson

Controversies

Among the firm's East Asian clientele is Malaysia's sovereign wealth fund 1MDB, which, under the direction of Jho Low, transferred $368 million from a Swiss bank into Shearman & Sterling’s trust account to cover extravagant costs and finance the film The Wolf of Wall Street. The DOJ included the firm in civil lawsuits for facilitating a trust account used to misappropriate 1MDB assets. Nevertheless, no allegations of misconduct have been made against Shearman or its attorneys.

Recognition

Shearman & Sterling has been acknowledged by legal journals and industry evaluators for its proficiency in areas such as dispute resolution, international arbitration, project finance, public international law, capital markets, and mergers and acquisitions.

Pro bono

The firm actively engages in pro bono work, notably acting as counsel to the International Criminal Tribunal for Rwanda (ICTR) in Tanzania, with lawyers frequently seconded there. It also supports entities like FINCA International, which emphasize microfinance and village banking initiatives. Additional pro bono efforts encompass asylum representation, Violence Against Women Act petitions, criminal appeals, and legal matters related to art.

Business

Markus U. Diethelm, international associate from 1989 to 1992; currently serves as general counsel at UBS AG
Philippe Dauman, associate (1978–1987) and partner (1987–1993); former CEO of Viacom
Mitch Caplan, associate between 1984 and 1990; previously CEO of E-Trade
Dr. Ann Olivarius, led Corporate Practice in Washington, DC (1991–1992); now Chair of the Executive Committee at McAllister Olivarius
Bob Woodruff, former associate and journalist at ABC News
Nina Zagat, co-founder and co-chair of the Zagat Survey; affiliated from 1966 to 1990
Tim Bezbatchenko, presently general manager of Toronto FC in Major League Soccer

Government

Melody Barnes, previously senior domestic policy adviser to President Barack Obama.
Laurens Jan Brinkhorst, Dutch politician who has served as minister and member of the European Parliament.
Raymond J. Dearie, associate from 1969 to 1971; Judge at the United States District Court for the Eastern District of New York.
James Donato, partner between 2009 and 2014; Judge at the United States District Court for the Northern District of California.
Joseph A. Doyle, associate (1947–1956) and partner (1956–1979); served as Assistant Secretary of the Navy (Manpower and Reserve Affairs) during Carter’s administration.
William Francis Kuntz, associate from 1978 to 1986; Judge at the United States District Court for the Eastern District of New York.
John McCarthy, associate (1966–1967); Australian ambassador to Vietnam, Mexico, the United States, and Japan.
Jeffrey A. Meyer, former associate; Judge at the United States District Court for the District of Connecticut.
Caroline Mulroney, former associate; served as Attorney General of Ontario.
Clark T. Randt, Jr., ex-Managing Partner for China at Shearman & Sterling; U.S. Ambassador to China from 2001 to 2009.

Academia

Charles ("Chuck") W. Mooney Jr., Charles A. Heimbold, Jr. Professor and former interim Dean at the University of Pennsylvania Law School.
Robert Mundheim, lawyer, legal scholar, and past Dean of the University of Pennsylvania Law School.

External links

Official website