Reed Smith global managing partner leaves for US bank role

Reed Smith’s longstanding global managing partner Greg Jordan is leaving the firm to join the PNC Financial Services Group.

In a surprise move, Jordan (pictured) has stepped down after 13 years at the helm of the international firm. He will replace outgoing PNC general counsel Bob Hoyt, who was last month headhunted by Barclays to replace outgoing legal chief Mark Harding.

At PNC – one of the largest bank’s in the US – Jordan will hold the position of vice president general counsel and will report directly to CEO William Demchak. He will also have responsibility for the company’s regulatory and government functions.

During his 13-year tenure as managing partner, Jordan guided Reed Smith through a series of mergers in Europe, California, New York, Chicago, the Middle East, and Asia to help create a 1,800 lawyer-strong firm.

“It will be difficult to leave, but I am excited about this new opportunity to help lead a great company and client like PNC,” commented Jordan.

“I am proud of the firm we have built, and I know the firm’s strong core values and great talent will continue to make it successful. There is an outstanding and experienced management team in place to lead Reed Smith into the future.”

Jordan will be succeeded at Reed Smith by litigation department chair Sandy Thomas, who received unanimous backing from the firm’s executive committee.

Thomas joined Reed Smith in 1999 following the firm’s combination with Hazel & Thomas PC and was elected to the executive committee a decade later.

“Greg has been a tremendous leader,” said Thomas. “We thank him for all he has done to help transform Reed Smith into the financially strong, global law firm that it is today.

Last month, Paul Aguggia, the chairman of Atlanta-based firm Kilpatrick Townsend also announced he was departing for the chief executive role of Clifton Savings Bancorp, a little over a year after being elected to lead the law firm.

The news also follows the decision of Freshfields Bruckhaus Deringer global managing partner Ted Burke to return to his native Boston, where he will take a role as GC and COO of energy-focused private equity firm Arclight Captial from early 2014.