Corporate head Charles Penney (pictured) has been appointed Addleshaw Goddard‘s new senior partner, replacing Monica Burch, who was first elected to the role in 2010.
Penney, who joined the firm in 2005 will take up the job on May 1, for a term of three years. He has acted for both domestic and international clients on substantial mergers and acquisitions including, particularly, public takeovers, IPOs and joint ventures.
At the time of the firm’s proposed leadership shake-up of its partnership terms and governance structure late last year, it was discussed that the senior partner role may be reduced to a part time position. Addleshaw Goddard said that Penney will combine his existing client responsibilities with his new leadership responsibilities, focusing on the firm’s growth across the firm’s UK and international markets.
Following the announcement of his appointment, Penney said: ‘We are well recognised in our chosen sectors and markets – both in the UK and internationally – as a premium business which is great to work both with and for. Alongside client commitments, the continued focus on our growth, our brand and our culture will be key priorities for me as senior partner.’
Penney was up against Andrew Carpenter, a partner in the firm’s M&A and private equity group who leads the team responsible for its international strategy, implementation and its relationships with law firms in jurisdictions outside of England and Wales.
Outgoing senior partner Monica Bruch said: ‘I wish Charles well as my successor. He brings experience and energy and, with Charles as senior partner and John Joyce as managing partner, the firm is in very good hands. They have the support of our business and are passionate about two aspects which remain core to AG – our people and our clients.’
Last month it was reported merger talks between Addleshaws and Scottish firm Maclay Murray & Spens were called off. The deal, which would have created a national practice with combined revenues of around £230m, was planned to go ahead in May this year.
Addleshaws has been clear that it wants to make £250m in fee income by the financial year 2017/18, which a takeover would have helped achieve.