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Rankings published in 2026
Banking and finance
Tier 1
28 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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Tier 2

Baker McKenzie
6 practice areas
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DLA Piper
5 practice areas
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Loyens & Loeff
9 practice areas
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Stibbe
8 practice areas
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White & Case
6 practice areas
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Tier 3

Ashurst Perkins Coie
6 practice areas
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Deloitte Legal
8 practice areas
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Eubelius
9 practice areas
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Jones Day
6 practice areas
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Liedekerke
8 practice areas
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NautaDutilh
6 practice areas
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Tier 4

AKD
4 practice areas
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Altius
6 practice areas
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Argo
7 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Fieldfisher
4 practice areas
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Hogan Lovells Cadwalader
2 practice areas
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Lydian
7 practice areas
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PwC Legal
5 practice areas
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Notable

Ariga
2 practice areas
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Astrea
3 practice areas
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Freshfields
7 practice areas
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Monard Law
7 practice areas
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Strelia
4 practice areas
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Van Bael & Bellis
4 practice areas
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Capital markets : Debt
Tier 1
17 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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Stibbe
8 practice areas
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Tier 2

Loyens & Loeff
9 practice areas
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NautaDutilh
6 practice areas
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Tier 3

Baker McKenzie
6 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Eubelius
9 practice areas
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Freshfields
7 practice areas
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Jones Day
6 practice areas
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White & Case
6 practice areas
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Notable

Argo
7 practice areas
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Ashurst Perkins Coie
6 practice areas
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Deloitte Legal
8 practice areas
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Liedekerke
8 practice areas
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PwC Legal
5 practice areas
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Capital markets : Equity
Tier 1
14 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Baker McKenzie
6 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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NautaDutilh
6 practice areas
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Tier 2

Eubelius
9 practice areas
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Freshfields
7 practice areas
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Stibbe
8 practice areas
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Tier 3

Loyens & Loeff
9 practice areas
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Notable

Argo
7 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Deloitte Legal
8 practice areas
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Jones Day
6 practice areas
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Liedekerke
8 practice areas
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Capital markets : Structured finance and securitisation
Active
6 firms ranked
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Active

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Deloitte Legal
8 practice areas
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Liedekerke
8 practice areas
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Loyens & Loeff
9 practice areas
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Stibbe
8 practice areas
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Financial services regulatory
Tier 1
19 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Bird & Bird
4 practice areas
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DLA Piper
5 practice areas
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Linklaters
8 practice areas
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Simont Braun
5 practice areas
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Tier 2

Baker McKenzie
6 practice areas
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Deloitte Legal
8 practice areas
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Eubelius
9 practice areas
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Gide Loyrette Nouel
1 practice area
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Loyens & Loeff
9 practice areas
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NautaDutilh
6 practice areas
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Tier 3

Altius
6 practice areas
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Ashurst Perkins Coie
6 practice areas
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Clifford Chance
9 practice areas
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K Law
3 practice areas
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Liedekerke
8 practice areas
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Lydian
7 practice areas
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Monard Law
7 practice areas
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Notable

Argo
7 practice areas
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M&A
Tier 1
39 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Baker McKenzie
6 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Freshfields
7 practice areas
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Tier 2

Argo
7 practice areas
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Clifford Chance
9 practice areas
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Eubelius
9 practice areas
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Linklaters
8 practice areas
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Loyens & Loeff
9 practice areas
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Stibbe
8 practice areas
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Tier 3

Altius
6 practice areas
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Liedekerke
8 practice areas
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NautaDutilh
6 practice areas
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Simont Braun
5 practice areas
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Van Bael & Bellis
4 practice areas
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White & Case
6 practice areas
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Tier 4

CMS DeBacker
3 practice areas
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Cresco
5 practice areas
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DLA Piper
5 practice areas
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Deloitte Legal
8 practice areas
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Jones Day
6 practice areas
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Lydian
7 practice areas
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Monard Law
7 practice areas
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Quinz
3 practice areas
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Strelia
4 practice areas
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Van Olmen & Wynant
3 practice areas
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Tier 5

AKD
4 practice areas
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Astrea
3 practice areas
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Contrast
3 practice areas
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Dentons
2 practice areas
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PwC Legal
5 practice areas
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Quorum
2 practice areas
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Notable

Ashurst Perkins Coie
6 practice areas
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Bird & Bird
4 practice areas
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Cambrian
2 practice areas
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EY Law
4 practice areas
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Fieldfisher
4 practice areas
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Four & Five Law
2 practice areas
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PKF BOFIDI Legal
1 practice area
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Project development
Tier 1
14 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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Tier 2

Loyens & Loeff
9 practice areas
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Lydian
7 practice areas
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Stibbe
8 practice areas
View profile

Tier 3

Deloitte Legal
8 practice areas
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Eubelius
9 practice areas
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Jones Day
6 practice areas
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Liedekerke
8 practice areas
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Monard Law
7 practice areas
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Tier 4

DLA Piper
5 practice areas
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White & Case
6 practice areas
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Tier 5

Fieldfisher
4 practice areas
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Linked Reviews
Financial and corporate

“Magic Circle” firmAllen & Overy is among the largest law firms in the world with 44 office locations globally. The firm’s Belgian offices are in Antwerp and Brussels. 

 

Focusses / specialisms 

The firm’s financial and corporate offering in Belgium is top tier, with market-leading competence possessed in banking, capital markets, M&A and project development. 

The banking team has a roughly equal split between sponsor and borrower side work and provides a comprehensive service to large banks, corporate borrowers and issuers on all types of financing work. The firm also has a top-flight financial services regulatory practice to complement its transactional and advisory work. 

In capital markets the firm is strong and highly active across debt, equity, derivatives and structured finance. It has traditionally been recognised for its underwriter-side work but has in recent years increased the number of issuer-side representations. 

Its market leading M&A team has a prolific deal flow and roles on most of the large Belgian transactions. The team is strong in both the French and Dutch parts of Belgium and boasts the most active private equity practice in the country. 

The firm is also well recognised for its projects practice, which is strong in both infrastructure and energy. Comprised of dedicated lawyers based in Brussels and Antwerp, the firm has pioneered the development of public-private partnerships and greenfield in the Belgian legal market and has played a role in every major PFI and PPP in Belgium. 

 

Key clients 

Key clients include Belfius Bank, ABN AMRO, ING Belgium, KBC Bank, Kharis Capital, Natixis, Immobel, Argenta Spaarbank, Bank of America, International Swaps & Derivatives Association, JP Morgan, Lineas, Kartesia, Société Générale, Crédit Agricole, Recticel, QSR Platform and La Lorraine Bakery Group. 

 

Client feedback: 32nd edition (2021/2022) 

Project development: Energy 

“A&O Belgium is a very well established name in the DBFM(O)market and as such has a wealth of experience that it can use to its advantage in advising us. They have a hands-on and efficient approach and are able to think alongside us to tackle challenges (e.g. group internal) and provide solutions.” 

 

M&A 

“Strong experience in international M&A, very reliable and qualitative service. Also strong in brand building by providing training to young PE professionals.” 

13 results13 results
Deal Highlights
18 results18 results
Deal Name Deal Date Firm Name Jurisdiction Deal Type Lawyer Names Client Names Client Role
KBC - Bond Issue
2021-05-01
A&O Shearman
Belgium
Bond issue
KBC
Issuer
KBC - Bond Issue
2021-09-01
A&O Shearman
Belgium
Bond issue
KBC
Issuer
Ghelamco Invest NV - Bond Issue
2021-06-01
A&O Shearman
Belgium
Bond issue
Ghelamco Invest NV
Issuer
MG RE INVEST - Bond Issue
2021-05-01
A&O Shearman
Belgium
Bond issue
MG RE INVEST
Issuer
Argenta Spaarbank NV - Bond Issue
2021-02-01
A&O Shearman
Belgium
Bond issue
Argenta Spaarbank NV
Issuer
Waterland Private Equity Investments BV - M&A
2021-07-16
A&O Shearman
Belgium
M&A
Waterland Private Equity Investments BV
Seller
Lansweeper NV - M&A
2021-07-02
A&O Shearman
Belgium
M&A
Lansweeper NV
Seller
Aliaxis Finance SA - Bond Issue
2021-10-01
A&O Shearman
Belgium
Bond issue
BBVA - Banco Bilbao Vizcaya Argentaria, BNP Paribas, Crédit Agricole, HSBC, KBC
Underwriter
Aliaxis Finance SA - Bond Issue
2021-11-01
A&O Shearman
Belgium
Bond issue
BBVA - Banco Bilbao Vizcaya Argentaria, BNP Paribas, Crédit Agricole, HSBC, KBC
Underwriter
Argenta Spaarbank NV - Bond Issue
2021-10-01
A&O Shearman
Belgium
Bond issue
Argenta Spaarbank NV
Issuer
Telenet Group Holding NV - M&A
2022-03-25
A&O Shearman
Belgium
M&A
Telenet Group Holding NV
Seller
Frontline Ltd. - M&A
2022-04-07
A&O Shearman
Belgium
M&A
Frontline Ltd.
Buyer
Argenta Spaarbank NV - Bond Issue
2022-02-01
A&O Shearman
Belgium
Bond issue
Argenta Spaarbank NV
Issuer
Rivean Capital BV - M&A
2022-06-22
A&O Shearman
Belgium
M&A
Frederiek Adams
Rivean Capital BV
Buyer
Alpha Private Equity Funds Management Co. - M&A
2022-07-13
A&O Shearman
Belgium
M&A
Alpha Private Equity Funds Management Co.
Seller
JERA Co. Inc. - M&A
2023-03-22
A&O Shearman
Belgium
M&A
JERA Co. Inc.
Buyer
CVC Capital Partners Ltd. - M&A
2023-06-20
A&O Shearman
Belgium
M&A
CVC Capital Partners Ltd.
Buyer
Liberty Global Belgium Holding BV - M&A
2023-03-21
A&O Shearman
Belgium
M&A
Liberty Global Belgium Holding BV
Buyer
Tom Schoors will combine the new EU chair role with his post as Belgium managing partner, helping global clients to tap into the firm’s EU expertise across 16 offices
ESG
Lawyers at A&O Shearman and Vinson & Elkins say that judges are approaching statutory interpretation differently following Loper Bright, but they are still paying attention to government arguments
New hires were made across the finance practices in New York, San Francisco, London and Milan
M&A
Paolo Nastasi, managing partner for Italy, delves into Q1 market trends, deal structures and how the firm is driving growth at a practice level
Regulations must be effective, not excessive, says OCC chief Rodney Hood
M&A
As the European Commission seeks input on updating its 20-year-old merger rules, focusing on traditional competition metrics will no longer be enough, lawyers say
The UK managing partner reflects on her career and discusses the opportunities ahead for the firm, particularly in leveraged finance
Partner Tom Grant discusses the legal innovation behind the first Solvency II-compliant restricted tier 1 bond issuance in Portugal and how it can help the firm to win more work
Sponsored

Sponsored

  • IFLR1000
    Sponsored by Radu Tărăcilă Pădurari Retevoescu SCA (RTPR)
    RTPR has assisted the private equity fund MidEuropa with respect to Romanian law matters related to the closing of the sale of Regina Maria Group to Mehiläinen, Finland’s largest healthcare and social care provider. The transaction was signed in March 2025 and is the largest ever healthcare services transaction in Central Europe.
  • IFLR1000
    Sponsored by Radu Tărăcilă Pădurari Retevoescu SCA (RTPR)
    RTPR has assisted AROBS Transilvania Software, an important Romanian company that provides software services and solutions in various industries and the largest tech company listed on the Bucharest Stock Exchange, in relation to the acquisition of majority stake in Global Engineering Services & Solutions S.R.L. (Gess Engineering).
  • IFLR1000
    Sponsored by Radu Tărăcilă Pădurari Retevoescu SCA (RTPR)
    RTPR has assisted the syndicate of banks formed by Banca Transilvania and Banca Comerciala Romana as Mandated Lead Arrangers, and Raiffeisen Bank, BRD - Groupe Société Générale, CEC Bank, ING Bank and Intesa Sanpaolo Bank Romania, as lenders in connection with a RON 3.1 billion syndicated loan granted to Electrica for investments and refinancing. Raiffeisen Bank also acted as Sustainability Agent.