A&O Shearman posts 14% profit growth
A&O Shearman has reported a 14% increase in profit before tax to USD 1.6 billion for the financial year ended 30 April 2026, as the firm continues to reap the benefits of its post-merger integration and strategic focus on high-value, cross-border work.
Revenue remained stable at USD 3.7 billion, while profit per equity partner (PEP) rose 12% to USD 2.9 million. Revenue per partner increased by 11.3%, reflecting what the firm described as a more focused and profitable operating model two years after the merger that created A&O Shearman.
The results follow a period of deliberate reshaping, with the firm concentrating resources on complex mandates where its global platform offers a competitive advantage. These include transformational M&A transactions, sophisticated financing deals, major disputes, regulatory matters and AI-enabled legal services.
“A&O Shearman is becoming a more profitable and more focused firm,” said global managing partner Hervé Ekué. “Clients are entrusting us with more of their most important and complex mandates. Combined with the way we have streamlined our operation, our profitability has grown significantly.”
Strategic investment in talent
During the year, the firm continued to strengthen its partnership, promoting 33 lawyers to partner and making 24 strategic lateral hires across priority sectors and jurisdictions.
The firm’s sector-focused strategy was reflected in several headline transactions. Among them, A&O Shearman advised Genmab on its USD 8 billion acquisition of Merus and subsequent USD 6 billion refinancing, Boston Scientific on its proposed USD 15 billion acquisition of Penumbra, and Texas Instruments on its USD 7.5 billion acquisition of Silicon Labs.
In private capital, the firm advised Partners Group on the acquisition of Techem and worked on the financing for InPost’s EUR 7.8 billion take-private transaction. Other notable mandates included advising JDE Peet’s on the EUR 15.7 billion recommended public offer by Keurig Dr Pepper and supporting Sizewell C on contracting and supply chain arrangements for its GBP 38 billion nuclear energy project.
AI integration continues
The firm highlighted artificial intelligence as a key driver of efficiency and client service improvements. A&O Shearman has continued to expand the integration of AI tools across its legal operations, embedding legal expertise into technology platforms and incorporating those systems into lawyers’ day-to-day workflows.
According to the firm, the objective is to improve speed, consistency and precision while allowing lawyers to focus on complex, judgment-based work.
