Eduardo Leite looks set to be re-appointed as chairman of Baker & McKenzie shortly after it regained its position as the world’s largest law firm. Leite, who took charge of the US-bred practice in 2010, has faced no opposition for the post and partners at the firm understand his re-election will be a formality.
His next term is expected to be confirmed by partners during the firm’s upcoming annual meeting in London in October. Bakers typically looks to extend leadership positions on a rolling basis, with Leite set to stay on as chairman for between two and four further years.
Should he see out the full four years, he would become the 1,480-partner firm’s longest serving chairman in recent history, with previous incumbent John Conroy having served a four-year term and a two-year extension that ended in 2010, and Bakers’ most famous alumna, International Monetary Fund chief Christine Lagarde, having headed the firm for five years until 2004. A Bakers partner familiar with the matter told Legal Business: ‘There is no fixed term, but everyone is happy with Eduardo and no challengers have emerged.’
Leite has overseen a period of rapid international expansion at Bakers, opening nine new offices in four years, with the firm having launched in Doha, Istanbul, Johannesburg, Casablanca, Lima, Seoul, Dubai, Yangon and Brisbane. This contrasts to the decade before, which saw the firm open in just two new locations.
Global revenues at the firm have grown 21% from $2.1bn to $2.54bn during Leite’s time at the helm, making it the first law firm to cross the $2.5bn threshold. Profits have also risen by 13% to $910m and the number of lawyers has passed the 4,000 mark to reach 4,245.
Leite, who in 2010 became the first Latin American to be elected chairman of a major international law firm, was selected last year by the Obama administration to also serve a three-year term on the US-Brazil CEO Forum.
John Leadley, who heads Bakers’ product and operational risk group in London and manages the dispute resolution department, told Legal Business: ‘Eduardo is very popular within the firm and has overseen international growth and a rise in revenue. London, which is the firm’s biggest office, continues to be busy.’
A Bakers spokesperson declined to comment.
tom.moore@legalease.co.uk