Firm Profiles
IN-DEPTH RESEARCH REPORT
on Shearman & Sterling LLP
- - Financial Information
- - Compensation
- - Billing Rates
- - Lateral Partner Moves
- - Pro bono
- - Key Contacts
Shearman & Sterling
- Designation: International
- Head Count: 842
- Gross Revenues: $752,000,000
- Revenue Per Lawyer: $895,000
- Profits Per Partner: $1,520,000
- Year Over Year Change: 1
Shearman & Sterling isn’t just one of the nation’s oldest and most distinguished law firms, it’s also one of its most resilient. How else to describe a firm that took so many hits during the recession—by 2011, its net income, gross revenue, profits per partner, and head count lagged 2007 levels—yet still earned a spot on The American Lawyer’s A–List for 2011, a designation limited to just 20 premier firms?
It wasn’t Shearman’s first time on the list, either. Unlike many of its New York peers, the firm has built a reputation as a well–rounded legal powerhouse: While there is an emphasis on hard work—and a lot of it—the firm also regularly posts above average grades for pro bono (eighteenth in 2011), diversity (twenty–ninth in 2011), and associate satisfaction (sixtieth of 126 firms in 2011, but remember, this is Manhattan). Its scores dropped a bit during the downturn, but that they still managed to top so many firms—even as Shearman placed seventy–third of 84 firms on The American Lawyer’s Recession Performance Index—is a significant achievement.
Of course, when you’ve been around since 1873, you’ve had some experience with hard times. You also have a track record, too, and Shearman’s is compelling: It helped The Ford Motor Company go public, represented Cadbury in its $19.4 billion acquisition by Kraft, and advised Suncor Energy in its $15.8 billion merger with Petro–Canada. One upside to the economic meltdown was that it kept Shearman’s litigators busy. Indeed, their work representing the remnants of Merrill Lynch & Co., Inc., in litigation over its merger with Bank of America Corporation and in ERISA class actions helped earn the firm an honorable mention in The American Lawyer’s 2010 Litigation Department of the Year contest. Shearman’s numbers may have flagged during the recession but its status as one of the country’s top law firms remained firmly intact.
—Updated as of 1/1/12
Firm Rankings
| Survey | Rank | Year Over Year Change | Description |
|---|---|---|---|
| Am Law 100 | 35 | 1 | Gross revenue |
| Am Law 200 | 35 | 1 | Gross revenue |
| NLJ 250 | 34 | 1 | Lawyer head count |
| The A-List | 18 | no change | Overall excellence |
| Pro Bono Scorecard | 18 | 8 | Pro-bono commitment |
| Diversity Scorecard | 21 | 8 | Minority head count |
| Midlevel Associates Survey | 60 | 19 | Job satisfaction |
| Summer Associates Survey | 75 | 12 | Summer programs |
In the News
The Careerist: What Yalies Really Want
Vivia Chen : The Am Law Daily : April 18, 2013
Yale Law Women releases its top 10 law firm list for family friendliness.
Asia Deal Digest: April 18, 2013
Tom Brennan : The Asian Lawyer : April 18, 2013
* Herbert Smith Freehills guides the winning consortium on a $5.3 billion Aussie port lease deal* Singapore's Stamford Law advises on a $470 million reverse merger* Simpson Thacher and Davis Polk on a $650 million acquisition in India
Shearman Spin-Off Snags Role on Daimler's EADS Sale
Brian Baxter : The Am Law Daily : April 17, 2013
German automaker Daimler AG announced Wednesday the sale of its remaining 7.5 percent stake in European aerospace and defense giant EADS for $2.9 billion. The move comes on the heels of French media conglomerate Lagardere's bid last week to raise $3 billion through the sale of its 7.4 percent stake in EADS as the latter overhauls its ownership structure.
City Bar Justice Center Hosts Annual Gala
: New York Law Journal : April 15, 2013
The City Bar Justice Center honored Cravath, Swaine & Moore and Viacom on April 10 at its annual gala.
D.C. MOVES
: The National Law Journal : April 15, 2013
Singapore's Wall Street Problem
Jessica Seah : The Asian Lawyer : April 15, 2013
Singapore has attracted droves of international firms, but several of the most elite names in the business remain conspicuously absent from the island nation's growth story.
Wilmer, Wachtell Help Longtime Gene Client Clinch $13.6 Billion Merger
Brian Baxter : The Am Law Daily : April 15, 2013
A team of lawyers from Wachtell, Lipton, Rosen & Katz and Wilmer Cutler Pickering Hale & Dorr are advising Waltham, Massachusetts-based health care and laboratory equipment maker Thermo Fisher Scientific on its $13.6 billion acquisition of Life Technologies Corp., creating a genetic testing giant. Latham & Watkins and Cravath, Swaine & Moore are also working on the proposed transaction.
Personal Notes on Lawyers
: New York Law Journal : April 11, 2013
Shearman & Sterling, Ogletree Deakins and Lowenstein Sandler announce new additions.
The Churn: Lateral Moves in The Am Law 200
Diane Jeantet : The Am Law Daily : April 9, 2013
King & Spalding brings aboard a former assistant chief of the Justice Department's antitrust division in New York; Gibson Dunn hires a longtime veteran of the SEC; and Schiff Hardin grabs four attorneys from Miller Canfield. The Churn is constant. Please send all announcements to thechurn@alm.com.
Howrey Trustee Adds Firms to Clawback List
Julia Love : The Recorder : April 9, 2013
The Howrey estate was by turns peaceable and litigious Friday, striking a multimillion-dollar settlement with one of its insurance carriers while rounding up more firms — including Haynes and Boone — for clawback claims.
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