Macfarlanes management’s term extended to 2020

Macfarlanes senior partner Charles Martin and the firm’s managing partner Julian Howard have had their terms extended until 2020.

The pair’s term was due to run until 2017, but was extended by the partnership to 2020.

Former corporate chief Martin took the top job at Macfarlanes in 2008, replacing Paul Phippen. Former banking head Howard took up the managing partner role in 2010, replacing Simon Martin.

Charles Martin said: “We view succession as something that we always do in a smooth and considered way so we would always start looking at things well ahead of time.”

He said that soundings were taken from all partners before the decision was taken to vote on an extension to their current terms.

“Our intention will be to make sure that the firm carries on moving forward and investing in the practice and that we maintain the momentum that we have enjoyed over the past years,” Martin said.

In its 2014-15 accounts the firm reported revenue of £156.5m, a 17% increase on the previous year.

Its pre-tax profit was £91.4m, and its top earning partner took home £2.042m.

Recent deals for the firm include advising Stanhope on its acquisition of the BBC’s media village, acting for law firm Thomas Eggar on its merger with Irwin Mitchell and acting for Exor on its investment in the Economist Group.