Herbert Smith has announced the appointment of David Willis (pictured) to the new role of managing partner.
The appointment comes at the end of an ongoing structural review carried out by the partnership council and the firm’s executive council, which began when David Gold started his term as senior partner in 2005. The top 10 London law firm has not had a managing partner since the mid-1990s.
It is thought the introduction of the role aims to relieve some of the workload that
Gold has taken on, handing operational management and strategic implementation issues to Willis.
He will hold the post until 31 March, 2010, when Gold’s term as senior partner also draws to a close.
In his role as managing partner, Willis will report directly to Gold. He will also chair the firm’s executive committee while Gold will sit at the helm of the partnership council. It is thought roles on the executive will remain unchanged, with corporate partner Henry Raine expected to continue in his business development capacity.
Willis, a corporate lawyer, has been at Herbert Smith since 1981 and became a partner in 1989. His practice focuses on M&A and financial services regulation. He headed up the firm’s Asian operations between 1997 and 2001 and recently advised Resolution Life on its £5bn takeover by Pearl.
The appointment comes amid a period of substantial investment for the top 10 UK firm, both in its international network and its City finance practice.
Willis told Legal Week: "The main objective is to improve our ability and strategy on the international front. Although we are well on the road in that respect, there is always room to get better at these things."
Gold said: “Over the last year or so we’ve worked together on several projects and I’ve found that we complement each other very well. We share a vision insofar as we recognise the need to expand carefully across the world. It is essential we have a management structure which reflects…the priority we are giving to international growth going forward and the opportunities and challenges we face from the current period of economic uncertainty.”
One former Herbert Smith partner commented: “[Gold’s] strength is his big vision. The firm desperately needs to become global and this necessary move shows their commitment to that end.”
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