Clyde & Co‘s insurance head Simon Konsta will become the firm’s new senior partner, following an uncontested election, on 1 November.
Konsta (pictured) will chair the firm’s global management board and will work closely with Clydes’ regional boards, the current global management team and chief executive Peter Hasson.
The cut-off date for senior partner nominations came last week, Legal Business understands, with the election sparked by James Burns’ decision last month to stand down from his role to become head of the Americas on 1 November. Elected for a three-year term, Burns has held the senior partner role since November 2013. His new role will see him based in the US and responsible for overseeing the further expansion and integration of Clyde & Co’s business in Canada, the US and Latin America.
Konsta, who currently sits on the firm’s global board, will be familiar with his new role having previously been senior partner at Barlow Lyde & Gilbert and led the firm into its significant merger with Clyde & Co in 2011. He was elected into the position at Barlows in 2008 but settled for a place on Clyde & Co’s senior management board after Clydes former senior partner Michael Payton took up the position at the merged entity. He has also been global head of the firm’s signature insurance practice group since 2013.
‘To have been elected senior partner of a firm of the calibre of Clyde & Co is an enormous privilege,’ said Konsta. ‘One of the great strengths of this firm is that it has long been committed to a clear sector-based growth strategy. My primary focus will be on maintaining that while broadening out our client programme across all sectors and regions so that we are ready for the next phase of our growth.’
Hasson added: ‘Simon has been at the heart of the leadership of Clyde & Co for a number of years and, as global head of insurance, has led the development of our largest global sector group. He has been appointed senior partner on the back of unanimous support from the global board as well as strong backing from across our regions and practice areas.’
Burns, who said Konsta will ‘make an excellent senior partner’, is to remain on the global management board and continue to lead a number of global projects and act as a relationship partner for some of the firm’s largest clients. In addition the firm’s chief strategy officer, William Isaac, will also relocate to the US.
Since the 2011 merger, Clyde & Co has rapidly expanded, in 2015 merging with 45-partner Scottish firm Simpson & Marwick which added around £30m to the Global 100 firm’s top line. Earlier this year, the firm continued its growth into America, opening a new Miami office with the acquisition of five partner litigation firm Thornton Davis Fein.
With Barlows having posted revenues of just £95.5m in the financial year preceding its merger with Clydes, the global firm has gone on to improve its financial performance year-on-year with an impressive 13% climb in revenues to £447m for the 2015/16 financial year. The firm also managed to bolster its PEP by 8% year-on-year to £649,000.