While interest in transatlantic tie-ups is currently peaking in the wake of the A&O Shearman and Herbert Smith Freehills Kramer deals, one firm that is ahead of the trend du jour is Eversheds Sutherland.
The firm – the result of the 2017 combination of the UK’s Eversheds and Atlanta-based Sutherland Asbill & Brennan – has since 2017 been led by co-CEOs Lee Ranson and Mark Wasserman, but is now entering its next leadership phase, with fresh names taking over at the top.
The joint UK-US leadership model in operation since the merger is continuing, with Keith Froud, managing partner of the firm’s business outside of the US, named co-CEO alongside Texas-based global energy co-head Lino Mendiola following an uncontested election, with the duo set to take up their roles in the second quarter of 2025.
Ranson is stepping down after two terms, while Wasserman has led the firm’s US arm through five terms as managing partner and co-CEO.
The change represents the first top-level leadership shift since the 2017 merger, since when it has achieved global growth of more than 50%, with total revenues rising from around $800m to $1.48bn.
Over the same period, Eversheds Sutherland International – which reports separately to the firm’s US arm – has seen revenues grow even more sharply, increasing 70% from £438.6m in 2016-17 to £749.4m this year.
Speaking with Legal Business, Mendiola emphasised the shared vision between the new leaders: ‘Keith and I are proud to be the first leaders elected since the merger. Our priority is to bring people together. It’s vital that everyone understands our strategy, vision, and goals, feeling part of our collective momentum.’
Froud acknowledged the legacy of outgoing leaders Ranson and Wasserman, describing them as ‘outstanding leaders’, while also acknowledging the importance of a smooth leadership transition.
Mendiola added: ‘Over the past seven years, we’ve experienced a smooth journey marked by increasing alignment each year. This leadership transition is yet another step toward strengthening that alignment. This change is a natural progression in the evolution of a large organisation like ours.’
A strategic objective for the firm is global growth. ‘In today’s fast-paced world, agility is essential for both our clients and us. Supporting different regions will be crucial for driving this growth,’ Froud explained.
He pointed to several areas for expansion, including cross-border transactions, multi-jurisdictional disputes, and global regulatory advice: ‘Globalisation raises interesting philosophical debates about its direction, but the demand for international cross-border advice in professional services is undeniably high.’
The decision to continue co-CEO roles supports the firm’s commitment to collaboration. ‘At this stage in our evolution, the co-chief roles help support that partnership message we want to convey, but we’re open to possibilities for the future,’ said Froud.
Mendiola continued: ‘It was natural to have co-CEOs at the time of the merger in 2017, with each firm having its own leaders. Now, after seven and a half years of observing how well that has worked, it’s clear that this structure has been effective.’
Regarding financial integration, Froud stated that it is not an ‘immediate’ plan, but something they ‘can’t say never’ to down the line.
Mendiola added: ‘We share a lot right now in terms of clients, strategies, and systems, and it’s working well. We’ll continue with what has been effective, as it makes sense for now.’
‘We don’t have a large ship to turn around; instead, we have the opportunity to keep our hands on the wheel and maintain the direction that Mark and Lee have set over the last several years.’
As the new leadership team takes shape, Mendiola, who has spent nine years as a partner in Eversheds’ energy team including the last three as co-head of global energy said: ‘As I transition from practising law to a leadership role within the firm, I’m dedicating time to smoothly transfer some of my clients to other partners. This period allows me to shift my mindset from that of a practitioner to a full-time law firm leader, and I truly appreciate having this time to make that transition.’
As Ranson prepares to step down, he said his successors should ‘stay close to clients.’ He cautioned: ‘It’s easy to become subsumed by the internal demands of the role as chief executive, but keeping a close connection to clients keeps you sharp and grounded.’
‘Our culture and values are unique and are why our people want to work for us, and why clients like working with us – protect it as the prized asset that it is.’
Meanwhile, partners Keri Rees and Helen Thomas have been elected as managing partners of the international business, while Adam Cohen has been appointed executive partner of the US business. With a clear focus on global growth and client service, Eversheds Sutherland is poised for continued success under its new leadership.