A&O Shearman global financial services regulatory co-head and financial institutions sector lead Barnabas Reynolds has left the firm to join Sullivan & Cromwell, in an extremely rare lateral hire for the US firm in London.
Reynolds, who is a Legal 500 Hall of Famer for non-contentious financial services, was one of the most high-profile partners at legacy Shearman & Sterling, where he headed up the firm’s global financial services practice. He took a similar practice leadership role when his firm merged with Allen & Overy last year.
He is known as a proponent of the benefits of Brexit, and in recent years has built a profile as a policy expert and commentator on the opportunities arising from the UK’s split from the European Union.
In a statement, Sullivan co-chairs Robert Giuffra and Scott Miller said: ‘We’re delighted that Barney is joining our firm. Barney is a leader in advising financial institutions in UK and EU regulatory and transactional matters. His addition will strengthen our preeminent financial services group by providing our clients access to the foremost experts on both sides of the Atlantic. We have long represented many of the world’s top financial institutions, and Barney’s addition will allow us to provide full-service advice to our clients around the globe, including from London, which remains a key growth priority for our firm.’
In contrast to many of its US peers, Sullivan very rarely makes lateral hires in London. In the last decade, it has hired only two other partners – former Shearman corporate partner Jeremy Kutner in 2018, and A&O private equity partner Karan Dinamani in 2023.
And partner exits have been just as rare as hires. However, earlier this year the firm saw two departures, with Gibson Dunn picking up European credit and leveraged finance practice head Presley Warner and European restructuring practice head Chris Howard.
Reynolds added: ‘Sullivan is known around the world for its premier financial institutions lawyers and practice. I’m honoured to become part of a global team that is the best in the business.’
A&O Shearman has seen a steady stream of departures since the merger of the two firms was announced in May 2023, with Legal Business research at the start of 2025 finding than more than 100 legacy A&O and Shearman & Sterling partners had left or retired since that date.
In September, the firm announced plans to cut 10% of its partnership by the end of the 2024-25 financial year, but departures have continued into the new financial year, including the news last month that digital infrastructure partner Tom Levine and restructuring partner Nick Charlwood would be joining Paul Weiss’s fast-growing London office.
