Linkaters’ outgoing Asia head Simon Davies has emerged victorious in the battle to replace Tony Angel as the firm's managing partner.
The firm's international board has made its final recommendations to partners selecting Davies as its ideal candidate to take over from Angel when he stands down later this year.
The decision will now be ratified by a partnership vote, with an announcement expected early in Febraury.
Davies, who has been the firm’s Asia managing partner since 2003 and only made partner in 1999, was considered the rank outsider for the post. He saw off stiff competition from capital markets chief Nick Eastwell and banking head John Tucker to win the board’s recommendation.
Partners at rival firms said they were not surprised by the news.
Freshfields Bruckhaus Deringer litigation head Ian Terry said: “The general impression of him from people in the know is that he is bright and very, very smooth. He is not quite a youngster but he is definitely regarded as the golden boy coming through. His name may not have featured until late, but I’m not surprised.”
If backed by the partnership, Davies will take over from Angel when his term ends at the end of June. Angel, who has been firm-wide managing partner since 1998, ended months of speculation when he told staff about his decision to stand down earlier this month (12 January).
Under Angel’s leadership the firm has seen significant increases in its partner profits and turnover. Last year, Angel presided over a 26% rise in profitability, with average profits per equity partner (PEP) standing at £1.06m. The firm is also on track to break the billion-pound turnover mark after reporting a 22% increase over the first half of this financial year with half-year revenues reaching £536m.
Talkback: Davies heading Linklaters – is the City giant right to skip a generation? Click 'Comment on this article' to have your say.
