Magic circle firm Allen & Overy (pictured) and its betrothed US partner Shearman and Sterling have announced the combined firm's first partnership promotions. A total of 40 lawyers have been elected to the partnership by their current firms. A&O elected 32 partners and Shearman elected eight, consistent with the relative size of the two firms and their geographic footprints.

They will join the A&O Shearman partnership upon the merger closing on 1 May. The two firms agreed on a merger last year to create what they claim will be the first fully integrated global legal business. A&O Shearman will have 3,950 lawyers and more than 800 partners across 48 offices worldwide, with combined annual revenues of around $3.5bn (£2.9bn).

The partnership announcement comes as several major international practices cut back their promotions against a slump in City transactional activity. Last year, A&O announced 36 promotions. 

The latest promotions have been made across 15 different offices in 11 countries. In total, there were 13 promotions in the US, nine in the UK, 13 across continental Europe, one in the Middle East and four in Asia.

Khalid Garousha, interim managing partner at A&O said: 'We are thrilled to welcome this exceptional group of lawyers to the A&O Shearman partnership. I am also pleased that 42% of those promoted across both firms are women, in line with our goal of increasing diversity. These partners will bring a wealth of expertise to our soon-to-be merged firm, providing exceptional service to our clients in the world’s most dynamic markets.'

Adam Hakki, senior partner at Shearman, said: 'The diversity, geographical breadth and range of expertise of these outstanding professionals demonstrates the quality and depth of the combined firm around the world. I am confident they will continue to accomplish great things and will be wonderful partners in every respect.'