Linklaters has elected Paul Lewis as its new managing partner, marking a full refresh at the top of the elite UK law firm after Aedamar Comiskey became its first female senior partner in May.
Lewis, the “magic circle” firm’s finance chief, will succeed Gideon Moore, who has held the top job since 2016.
“It is a privilege to have been chosen to work with Aedamar in leading us in the next part of our story,” Lewis said on Thursday. “The firm has a simple formula — exceptionally talented, high-performing teams delivering outstanding results for clients. I look forward to Aedamar and myself helping foster the environment that enables that to happen.”
Lewis has worked closely with Moore and Comiskey on the firm’s partnership board, according to lawyers, and is expected to provide a smooth leadership transition.
Partners said Lewis had discussed the idea of tweaking the firm’s pay structure during the election process in order to compete with US rivals but was not expected to bring “radical change”.
Lewis, who joined Linklaters in 1997 as a trainee, takes over as clients’ demand for advice has soared during the Covid-19 pandemic.
The firm is expected to reveal strong results for the year to April 2021 when it reports this month. Rival Allen & Overy on Thursday revealed a 19 per cent increase in profit before tax to £822m and a 17 per cent rise in the profit shares its equity partners took home, to £1.9m.
Linklaters is one of a declining number of firms that operate a “lockstep” remuneration model in which pay is hooked to time served. Two partners said Lewis had raised the idea of further tinkering with that system.
Like other magic circle firms, Linklaters is under pressure to remain competitive with deep-pocketed rivals that have sought to poach their talent with blockbuster pay deals.
One partner said the firm’s position in the US was also a key topic of discussion during Linklaters’ elections. Magic circle firms including Freshfields Bruckhaus Deringer, which elected a new managing partner last year, have performed strongly in recent years but are grappling with how to make deeper inroads into the American legal market.
Lewis will take up the new role on Friday, joining Comiskey who was elected two months ago following an all-female election race.
The former global corporate head is one of a number of high-profile women to have been voted into the top job in the traditionally fusty world of corporate law in recent months.
“Paul will be an excellent firmwide managing partner,” Comiskey said. “We have enjoyed working together as colleagues and friends for over 20 years. I have great confidence in his strategic thinking, strong leadership skills and laser-sharp focus on our future success.”