Allen & Overy: Difference between revisions

Template:Use British English Template:Use dmy dates Template:Infobox law firm Allen & Overy is a multinational law firm headquartered in London. A member of the UK's Magic Circle of leading law firms, Allen & Overy advises national and multinational corporations, financial institutions, and governments.^[1]

Since its founding in 1930, Allen & Overy has grown to become one of the largest law firms in the world, both by number of lawyers and revenue.^[2] With approximately over 5,000 staff including over 500 partners in 46 offices worldwide, the firm provides legal advice in Europe, the Americas, Asia, Australia, Africa and the Middle East.

History

Allen & Overy was founded in the City of London on 1 January 1930 by George Allen and Thomas Overy, formerly partners at Roney & Co. The main purpose was to build a commercial practice. The firm's reputation was made as a result of George Allen's role as advisor to King Edward VIII during the abdication crisis of 1936.^[3] By the time the Second World War broke out in 1939, Allen & Overy had firmly established itself as a leading City law firm.^{[citation needed]}

Over the years, Allen & Overy has been involved in many developments in the legal field. Such work has included advising on the first hostile takeover in the City of London and acting for S. G. Warburg & Co. The firm arranged the first Eurobond (issued by Italian motorway group Autostrada) in the 1960s. Some say that the Eurobond issue in 1963 was the single most important transaction in its history.^{[citation needed]}

The Eurobond transaction significantly diversified A&O's practice from a purely commercial into commercial and financial firm. Through the 1970s the firm's finance and corporate practice grew in the UK and internationally.

In 2000, Allen & Overy established an online subscription business, Derivative Services LLP, which provides commoditised legal solutions.

In May 2004, the worldwide partnership of Allen & Overy converted to a limited liability partnership, Allen & Overy LLP, which works together with associated undertakings in some jurisdictions to form a worldwide legal practice. In July 2008 Allen & Overy broke the £1 billion turnover mark,^[4] and, for the first time, over half of its turnover was generated outside London.^[5] Also in that year, Allen & Overy opened five new offices in Riyadh, Abu Dhabi, Mannheim, Düsseldorf and São Paulo, and announced a new association in Romania. The firm also announced a referral arrangement with Trilegal in India. ^[6]

A&O built a sizable local law practice in Japan following the easing of restrictions on foreign law firms in 2005, and at its peak employed 30 Japanese attorneys in its Tokyo office, but reduced this team to five in the wake of the 2008 financial crisis.^[7]

In 2009, Allen and 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 are based in London. Allen & Overy de-equitised a further 35 partners.^[8]

In 2011, the firm made the decision to outsource up to 180 support staff jobs to Belfast.^[9]

In 2010 A&O hit the headlines for offering full equity partners the option to work part-time.^[10] In the same year, expanded into Australia for the first time, opening offices in Sydney and Perth.^[11]

In 2011 Allen & Overy became the first global law firm to open a Moroccan office, located in Casablanca. This plan was announced shortly before rivals Clifford Chance and Norton Rose followed suit. Their latest expansion has seen the firm open offices in Istanbul, Hanoi and Ho Chi Minh City.

Some of the firm's notable personalities include two Lord Mayors of London, David Wootton and Sir Christopher Walford who was the seventh solicitor since records began in 1730 to become Lord Mayor. He also became the fifth person in A&O's history to receive a knighthood.

Offices

Over the years Allen & Overy has built its international presence and network to 46 offices in 32 countries. Most recently the opening of offices in Toronto and Johannesburg. Allen & Overy has a network of relationship law firms in 100 countries around the world.

Corporate Social Responsibility

Allen & Overy has an extensive global pro bono and community affairs programme, which in 2011, undertook 44,945 hours of pro bono and CSR work, with a value of over GBP15 million.^{[citation needed]}

In 2009 A&O launched the Smart Start Experience – the largest programme undertaken in the UK by a law firm to broaden access to top professions for young people from socially disadvantaged backgrounds.^{[citation needed]} The scheme was praised in the UK Government's report on Fair Access to the Professions,^[12] and was profiled widely on BBC News and BBC Radio 4's The World Tonight programme. In 2010 the scheme won a prestigious Lord Mayor's Dragon Award, which celebrates community investment in London.

Allen & Overy held a three-year relationship with the Red Cross, during that time A&O contributed to the development of a new Model Law on disaster relief as well as raised and donated over £600,000 for the Red Cross's work around the world.^{[citation needed]}

Allen & Overy has a global charity partnership with Afrikids which was formally launched in May 2012.

References

External links

• Allen & Overy website

Template:Magic Circle Template:Law firms of the United Kingdom