About Shearman & Sterling LLP.
Headquartered in New York City in the United States with 20 offices that are located in major financial centers around the world, Shearman and Sterling LLP was founded in 1873. Well known for its litigation and transactional capabilities, it was the 17th largest law firm in the world when measured by annual revenue in 2006.
Some of its litigation strengths are in International Arbitration, Capital Markets, Finance, and Mergers & Acquisitions. The firm has spread its practices in several areas such as public international law, U.S. federal law, New York as well as California state law, as well as law pertaining to other countries such as England, France, Germany, Italy, European Union, and Hong Kong.
The firm is established on a firm set of values to which it is committed strongly. It focuses its utmost capabilities and complete resources on their clients, so that their interests are maintained at all times. Shearman believes in pursuing excellence and professionalism in its work and business and aims to deliver quality as well as innovation in all spheres of service. It strongly believes in the pursuit of its core values so that its clients get the maximum benefit of its professional and specialized services.
Shearman and Sterling LLP had modest beginnings with 7 staff members in its New York Wall Street Office. Today, it has around 1000 attorneys in 20 offices globally.
It was founded in 1873 by Thomas Shearman and John William Sterling. Initially concentrating on litigation and transactional matters, the firm cultivated a number of important business ties representing important people such as Jay Gould and Industrialist Henry Ford. This strategy culminated in a number of important business ties such as the Rockefeller family, Citigroup and Deutsche Bank.
Witnessing international expansion in post World War II era under the direction of Boykn C. Wright, who joined as a senior partner from another firm with a group of attorneys. The firm established its first office in Paris in 1963.
In post war Germany, the firm cultivated important long term relationships with important blue chip companies such as Siemens and BASF. It also assisted Daimler in its listing on the NSE in 1993, which was the first such listing by a German company. It also assisted this company in its purchase and subsequent sale of Chrysler. It also is well known for its ability to compete in strategic legal markets. It has particularly made its name in the field of mergers and acquisitions in the United Kingdom.
The firm has also played an important role in negotiating the Iranian Hostage Crisis by representing Citibank during the strong negotiations that followed after the US government froze all Iranian assets in US banks.
Shearman and Sterling has been involved for many decades in Latin America as well. It played an important legal part in the Brady transactions and also won several accolades in the privatization of numerous state-owned entities. The firm launched an office in Sao Paulo in Brazil. It also has a significant presence in the Asia-Pacific region, and has offices in Hong-Kong, Beijing, Singapore and Shanghai.
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- Currently Ongoing
- Synthes, Inc., which is a Pennsylvania based medical device company, sought Shearman's advice in its $21.3 billion acquisition by Johnson & Johnson. This is one of the one of the largest acquisitions that was announced in 2011.
- Intercontinental Exchange (ICE) is being currently advised by Shearman and Sterling. ICE is a leading operator of global over-the-counter (OTC) markets, clearing houses and regulated futures exchanges. This is regarding a new clearing facility for OTC Non-Deliverable Forward Foreign Exchange (FX) contracts.
- December 2011
- Grupo Sura was represented by Shearman & Sterling represented in its $3.8 billion acquisition of ING's Latin American unit. This is the largest acquisition ever by a Colombian company. It is also the largest cross-border acquisition between two Latin American countries in history.
- July 2011
- Dow Chemical Company requested Shearman & Sterling to advise it on its joint venture with Saudi Aramco. This is to build a $20 billion petrochemical plant at the Arabian Gulf port of Jubail.
Area of practice
Awards and recognitions
Obtaining awards for its renowned work is now second nature at Shearman. In the recent past, the firm has been award and recognized several times for its outstanding and exceptional work:
Shearman and Sterling was presented with a 2012 "Outstanding Achievement Award" for the firm's decade long pro-bono work in an employment discrimination case by the Washington Lawyer's Committee for Civil Rights and Urban Affairs. The case Linklater v. Prince of Peace Lutheran Church involved the former music director at the local church, who was sexually harassed during her employment.
Shearman & Sterling has been recognized by Law360 as a "Global 20" firm for the second year in a row. This award is given to firms who share "a starring role in some of the most complex cross-border work on the market today, which increasingly requires boots on the ground and broad expertise in global corporate, technology, currency and political trends."
The firm has been named once again to The American Lawyer's highly coveted A-List. This list honors the US's top 20 law firms. A-List status is obtained by achieving a high ranking in four areas: financial performance, pro bono activity, associate satisfaction and diversity.
Shearman & Sterling obtained an outstanding 82% for the satisfaction of its lawyers as well as staff in a survey called "RollOnFriday's" Firm of the Year conducted in the UK. In this annual survey, staff and lawyers were asked to rate their firms which was based on salary, career development, work-life balance, and frankness as well as honesty about future plans. The survey also spanned the firm's culture as well as office facilities.
Rather than considering diversity as a simple philosophy, Shearman and Sterling firmly believes that diversity enhances the quality of work and also augments lives. The firm is determined to continue to weave a strong and diverse workforce and recruit and promote lawyers as well as other staff from a wider background.
The firm has concluded after a long research and analysis that diversity is the best and most effective way of conducting business in the global market place of today. The firm includes professionals from a wide and remarkable mosaic of backgrounds and cultures. It gives due respect to ethnicities, races, and sexual orientation. This unique perspective throws open a lot of possibilities about innovation and openness. The ultimate result is a better work product and a lot better work environment. The firm looks forward to increase and improve the diversity ratio through:
Minority job fairs
Outreach to law student groups
Recruitment at schools with a large minority population
Shearman calls this endeavor a global diversity and inclusion mission, whereby it helps foster a firm culture that supports and promotes diversity. All lawyers and other staff therefore should feel included and valued. The firm also goes a long way to increase the recruitment, retention, and development of lawyers, legal assistants, and other staff which belong to a broad ethnic pool and various cultural backgrounds. Finally, the firm has included measures to collaborate with clients and nonprofit organizations to encourage diversity as well as inclusion.
Summer associate program
Shearman and Sterling offers summer associate programs of various sizes in their New York, Bay Area, Toronto, and Washington, DC offices. The goal of the summer associate program is to give law students an opportunity to learn as much as possible about the firm as well as its practice areas. Students also learn about the nature of the legal practice as well. Students spend their summer doing real legal work, while working alongside with practicing lawyers.
The summer associate program provides a unique opportunity by way of rotation to work on real legal issues across various practice areas. These summer associates therefore are typically rotated through two practice groups in which they have expressed interest. Summer associates typically spend time in more than one firm office. These placements are typically based on the business needs of each office and individual levels of summer associate interest.
The summer associate is teamed up with two mentors - a partner mentor as well as an associate mentor, within each practice group. Here, summer associates learn a variety of skills such as legal writing, negotiation skills, deposition skills, and others. Thus, they gain tremendous practical experience and on the job training by working alongside skilled and accomplished lawyers.
Summer associates are invited to attend a number of social events throughout the summer alongside lunches and dinners. These events help summer associates develop social skills as well. Various events include cooking classes, baseball games, scavenger hunts, comedy, and even a wine tasting event over dinner. Regarding payment, all summer associates are paid are paid $3,077 per week, not considering class.
Working for the Shearman & Sterling LLP.
Shearman is one of the first law firms to establish a strong presence in the key global markets. Accordingly, its innovative spirit and the experience that the firm has gained over the years since its foundation 138 years in the past make it amongst the most sought after firm in the United States and other countries for complex legal matters. The firm represents many of the leading corporations, governments, emerging companies, and state-owned enterprises.
Shearman & Sterling is one of the few firms with a truly international practice. Shearman & Sterling was one of the first firms to internationalize. Its long history and experience sets the firm and its lawyers truly apart. Besides, the firm's cross border teams are known for its legal acumen and sharp skills. The firm is organized as a single, integrated partnership. Today it has over 1000 lawyers in offices located in the United States, Asia, Europe, and the Middle East. The firm's lawyers come from around 50 countries and speak more than 50 languages.
Lawyers practice the law of various countries including the US, England, EU, France, Germany, Italy and Hong Kong. Various opportunities exist for lawyers and support staff across the organization in the countries that it practices. The firm would like to hear from aspiring lawyers and other support staff who are talented and devoted to excellence, superiority and brilliance in their field of work. q