‘I’ve held a number of management roles in the firm, which, together with having recently chaired our supervisory body, should help me take on the new role and ensure a smooth transition,’ says Freshfields Bruckhaus Deringer’s new global managing partner David Aitman, as he steps into the sizeable shoes of veteran Ted Burke, following his recent decision to stand down.
Aitman was said to be the standout candidate, having previously chaired Freshfields’ partnership election committee and currently acting as senior elected member of the partnership council.
The competition partner, who will stand as managing partner until the role goes to a vote in 2015, will come off the council to avoid a conflict of interest as a vote on his replacement takes place at the end of this year.
Meanwhile, Burke leaves the City giant after 15 years to return to his home town of Boston as general counsel and chief operating officer of US private equity house ArcLight Capital Partners, depriving the firm of one of the market’s most highly rated law firm leaders.
Burke, who joined in 1998 and became Freshfields’ US managing partner in 2002 and chief executive in 2006, oversaw a drive to improve the firm’s profitability and pushed the firm through a major partnership shake-up, plus a controversial pension scheme overhaul.
He leaves a practice that is regarded by some as the best-positioned of the Magic Circle firms. Aitman says one area of focus going forward will be supporting its clients globally and building on the firm’s corporate and finance practice in the US.
‘Internationally, we will continue to be very focused on where clients need support and won’t be driven by dogma. If we need to broaden our offering in Singapore or in New York, we will. If we need to respond to demand for support on IPOs or litigation in Hong Kong, we will. Matching our teams in different offices to the needs of those markets will continue to be our challenge.’