In a conspicuously early move by Dentons‘ chief executive Elliott Portnoy and global chairman Joe Andrew, both have revealed they will stand as candidates for the firm’s scheduled management elections in 2017.
If elected, it will constitute Portnoy’s fourth consecutive term in senior management. Currently tasked with directing the firm’s global strategy and management, he previously served as chair at legacy Sonnenschein Nath & Rosenthal and was reappointed to the role after its merger with Denton Wilde Sapte in 2010.
A win for Andrew would constitute his third consecutive term in management, having previously chaired legacy SNR Denton and reappointed to the role after Dentons’ $1bn tripartite merger with Salans and Fraser Milner Casgrain in 2013.
The move also comes following a request from the Chinese firm Dentons is combining with, Dacheng, to reset the senior management’s terms. A spokeperson for the firm said: ‘Terms were reset with the combination with Dacheng, at the specific request of Dacheng’s leadership to ensure leadership continuity, and were voted on by all Dentons and Dacheng partners.’
The firm has also recently provided its 2015 forecasted revenue of $1.93bn while its UKMEA LLP financials recorded a 6% increase in revenue to £155m for 2014/15 with profit per equity partner up 23% on last year and net profit rising 18% to £34m.
The firm said the revenue growth was led by banking, TMT and real estate in the UK while the Middle East offices enjoyed double digit growth.
Both leaders are currently in the process of integrating the firm’s latest mergers, including its combination with Chinese firm Dacheng operating under a Swiss verein structure and, more recently a union with US firm McKenna Long & Aldridge.
Other firms gearing up for management elections this year include Freshfields Bruckhaus Deringer, which Legal Business revealed will see veterans Edward Braham and Christopher Pugh unite on a single platform and campaign to lead the firm together, despite initially canvassing separately. They will run against Anglo-German duo, corporate partner Simon Marchant and Germany and Austria regional managing partner Klaus-Stefan Hohenstatt for the positions of senior partner and managing partner respectively, as well as a third European-based ticket.
sarah.downey@legalease.co.uk