Partners at A&O Shearman received average £2.2mn for the year to April 30, a 12 per cent rise, as pre‑tax profits climbed to £1.2bn, returning to pre‑merger levels.

The firm, created by the 2024 merger of Allen & Overy and Shearman & Sterling, cut partner headcount by 10 per cent (from about 740 to around 710) and lost 19 London partners, the joint highest in the capital. It operates an all‑equity partnership.

The firm also faces scrutiny from the Donald Trump administration over diversity‑hiring deals; a US Department of Justice subpoena was issued this week. A&O Shearman declined comment.

Managing partner Hervé Ekué said the results show the strategy taking hold, citing mandates such as advising JDE Peet’s on its €16bn acquisition by Keurig Dr Pepper and Sizewell C on a £38bn nuclear project. Revenue slipped slightly to £2.8bn but was flat in dollar terms.