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Allen & Overy

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Allen & Overy LLP
HeadquartersOne Bishops Square, London, England E1 6AD
United Kingdom
No. of offices44 worldwide in 31 countries
No. of lawyers
  • Partners: approximately 554
  • Associates: approximately 2,768[1]
No. of employeesapproximately 5,500
Major practice areasGeneral practice
Key people
  • Wim Dejonghe
    Senior Partner
  • Gareth Price
    Managing Partner
Revenue £1.57 billion (USD2.01 billion) (2017/2018)[2]
Profit per equity partner £1.64 million (USD2.1 million) (2017/2018)[2]
Date founded1 January 1930; 94 years ago (1 January 1930)
Founder
  • George Allen
  • Thomas Overy
Company typeLimited liability partnership
Websitewww.allenovery.com

Allen & Overy LLP (informally A&O) is an international law firm. It is a member of the UK's Magic Circle of leading law firms. In 2019, Allen & Overy advised on more transactional deals than any other law firm in the world and was one of two firms to have surpassed the US$1 trillion mark in terms of deal value, totalling US$1.16 trillion.[3][4] As of 2019, Allen & Overy is the world's 10th largest law firm by revenue.[5]

Allen & Overy was founded in the City of London on 1 January 1930 by George Allen and Thomas Overy, formerly partners at Roney & Co.[6][7] The main purpose was to build a commercial practice. The firm's reputation was made as a result of George Allen's role as adviser to King Edward VIII during the abdication crisis of 1936.[8] By the time the Second World War broke out in 1939, Allen & Overy had firmly established itself as a leading City law firm.

In 1996, non-UK clients contributed more to Allen & Overy's revenue than UK clients. In 1998, non-UK clients contributed two-thirds of revenue.

In 2000, Allen & Overy merged with part of the Amsterdam, Brussels and Luxembourg offices of Loeff Claeys Verbeke.

In 2009, following the Global Financial Crisis, Allen & Overy completed a redundancy programme which saw 400 partners and staff lose their jobs globally. As well as cutting 47 partners, the firm cut around 200 fee-earners and 200 members of support staff, half of which were based in London. Allen & Overy de-equitised a further 35 partners. In the same year, Allen & Overy demerged its private client department, which became Maurice Turnor Gardner LLP.

Allen & Overy has 44 offices in 31 countries across Africa, Asia Pacific, Europe, North America, Latin America and the Middle East.

Diversity and inclusion

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In 2018, the firm has faced criticism over diversity and gender pay gap Externally the firm states, "Allen & Overy's strategic priorities are to achieve better gender balance at its top levels and to promote greater LGBT+ inclusion."

Gender. In 2010, Allen & Overy announced that it was offering full equity partners the option to work part-time. The move was hailed as a 'watershed moment' for the legal sector. It is believed to be the first scheme of its kind by any major international law firm.

LGBT+. Allen & Overy's LGBT+ network, A&Out, which was launched in 2016, supports its members by hosting a variety of events that aim to raise awareness of LGBT issues, and to allow members to network. Allen & Overy was ranked in the top 100 of the Stonewall Workplace Equality Index 2018, an audit of workplace culture for LGBT+ staff in the UK. In 2017, Allen and Overy advised Stonewall on the Alan Turing law on a pro bono basis. The Alan Turing law is an informal term for the law in the United Kingdom, contained in the Policing and Crime Act 2017, which serves as an amnesty law to pardon men who were cautioned or convicted under historical legislation that outlawed homosexual acts.

Notable alumni

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Some of the firm's notable alumni include:

Academia

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  • Marike Paulsson - the Director of the University of Miami's School of Law International Arbitration Institute.
  • Steven Schuit - a Dutch law professor, Nyenrode Business University.
  • John Dewar - a UK law professor and the Vice-Chancellor of La Trobe University.

References

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  1. "Allen & Overy LLP - True Picture - Chambers Student Guide". Chambers Student.
  2. 2.0 2.1 "The Magic Circle packs tight in 2018 results as A&O follows peers with modest growth - Legal Business". 6 July 2018.
  3. "Allen and Overy; Features". Refinitiv and Dealogic. 20 February 2020. Archived from the original on 2021-11-16. Retrieved 2020-02-20.
  4. "2018: The magic circle will be no more - The Lawyer - Legal News and Jobs - Advancing the business of law". 2 September 2013.
  5. "World's largest law firms". Spearswms. 12 February 2020. Retrieved 2020-02-12.
  6. "The History of Allen & Overy: 1930 – 1971 – Adam Smith, Esq". 2018-06-10. Archived from the original on 2018-06-10. Retrieved 2020-11-10.
  7. "Allen & Overy LLP | Company Profile | Vault.com". Vault. Retrieved 2020-11-10.
  8. "Allen & Overy LLP - True Picture - Chambers Student Guide". www.chambersstudent.co.uk. Retrieved 2020-11-10.