Nabarro has today (7 March) announced its real estate chief Ciaran Carvalho (pictured) has been elected as senior partner of the firm, to succeed incumbent Graham Stedman on 1 May 2016.
Following hustings last week, Carvalho won a contested election against corporate head Iain Newman and disputes head Jonathan Warne after the trio presented their views on how they would lead the firm over the next four year term. It is the second time Carvalho has gone for the senior partner job, losing out to Stedman in 2013.
Carvalho will continue to advise clients and generate fees. He joined Nabarro in 2009 and major clients he has brought to the firm include Lendlease, Urban&Civic, Angelo Gordon, Union Investment and Employees Provident Fund of Malaysia.
He now steps into the leadership role to oversee the firm’s three-year strategy, announced last June, which includes increasingly revenue from international clients to a third of turnover by 2018 and renewed focus on four key sectors, including healthcare & life sciences, infrastructure, real estate and technology. The firm is also aiming to improve business processes and deployment of IT.
During his time in management, Stedman oversaw the firm’s recent move to 125 London Wall which generated property savings, office expansion in its Singapore and Dubai offices, and an office launch in Manchester. He leaves the firm in healthier stead than previous years, where it suffered from heavy dependence on high-end and commoditised property work and a slide in LB100 rankings.
The firm’s half year result in December last year showed revenue was up 4% to £56.3m for the six months to the end of October, compared to the £54.1m recorded the previous year.
In a statement Carvalho said: ‘I look forward to working with each and every one of them to help us win clients, spot domestic and international opportunities and deliver our strategy. Our focus on four sectors, increasing the work we win from international clients, and a programme of change to refine how we provide our services, are central to the firm’s future success.’
Subscribers can read more about Carvalho in his ‘Life During Law’ profile here.