Travers Smith today (17 April) announced that current managing partner Andrew Lilley will hand over to senior corporate partner David Patient next year.
Patient (pictured), who joined the top 50 firm in 1990, will replace Lilley on 1 January 2015. Specialising in corporate finance, private equity and international M&A, Patient was responsible for establishing the 289-lawyer firm’s Paris office in 1999, currently chairs its international committee and is a member of its management committee.
Patient previously ran for the managing partner role in 2009 but lost out to Lilley, who went on to serve a second term upon re-appointment in 2012.
Patient will work alongside senior partner Chris Hale, who was elected into his role in the summer of 2013 after serving as head of corporate since 2003.
Hale, said: ‘I am delighted that David will succeed Andrew. David possesses the energy, drive and commitment to take Travers Smith to the next stage of development. He has the support of all and we wish him well in the role. Andrew has been an exceptional managing partner and will continue in office until the end of the year, working with David to ensure an effective transition.’
Patient added: ‘It is a huge honour to be the firm’s next managing partner and I am very grateful for the support of all of my partners and excited by the opportunities ahead. I very much look forward to working with Andrew in the coming months whilst still continuing to serve my clients.’
For the 2012/13 year Travers posted total revenues of £86.2m, up 3% from £83.8m in 2012. However, PEP dropped by 1% to £793,000 from £804,000 in 2011/12.