Top five UK firm Allen & Overy (A&O) is to match the benchmark rate for US year-end bonuses set last month by Wall Street leader Cravath Swaine & Moore underlining the London giant’s commitment to building a heavyweight New York practice.

The move will see A&O pay all of its 169 US-qualified associates bonuses of between $15,000 and $25,000 depending on seniority. This will include A&O’s 63 US-qualified assistants based in London.