In another vote of confidence for Ashurst’s leadership, Paul Jenkins has been re-appointed as global managing partner for a second four-year term.
The appointment by the Ashurst board was the result of extensive consultations with the firm’s partners and staff, with Jenkins’ second run set to start on 1 November 2019.
Jenkins’ appointment comes as the firm prepares to reveal its best financial results since Ashurst’s merger with Australian firm Blake Dawson in 2013. The expected double-digit revenue and PEP growth will mark Ashurst’s third consecutive year of growth following two consecutive years of decline post-merger. Revenue for the 2017/18 financial year saw a 4% uptick to £564m from £541m, while PEP increased 11% to £743,000 compared with £672,000 the previous year
Last November, Ben Tidswell took up his second term as Ashurst’s chair having in June stood unchallenged in a leadership election. That four-year term built on an initial five-year stint in the role which started in 2013 and which was one of the conditions of the merger.
Jenkins told Legal Business: ‘One of the biggest reasons for our success over the last three years has been getting the right people in the right leadership roles and ensuring all our people are engaged and energised and want the business to succeed. It was about getting everyone travelling in exactly the same direction. The strategy will be to continue investing in the five key sectors of banks and funds, energy and resources, real estate, infrastructure and digital economy, as well as growing in the strategically important markets of the US, Europe and Asia.’
Aside from Jenkins and Tidswell, Ashurst’s board comprises London-based corporate partner Karen Davies, Munich finance partner Bernd Egbers, Sydney-based restructuring partner James Marshall and strategic advisory partner Barbara Phair, projects and real estate partner Sarah Sivyour in London and – as of today (1 May) -Mark Herbert, chief financial officer in London.
Wu Gang and Robin Lawther are Independent board members.
Tidswell said: ‘I congratulate Paul on his re-appointment and thank him for his commitment, drive and leadership to date. We have had an exceptionally strong year and we are seeing the benefits of a significant focus on our clients, our market leading practices and our people. The board, executive team and partners share a determination to build further on this outstanding success in the years ahead.’
Jenkins joined legacy Australian firm Blake Dawson as a graduate in 1996 and became a finance partner in Sydney in 2006, co-leading the global finance division from 2012.