Hogan Lovells to have new CEO
12 Dec, 2013
Partners at global law firm Hogan Lovells are voting on the appointment of global co-head of Litigation Steve Immelt as their new CEO. Steve would take over from current Co-CEOs Warren Gorrell and David Harris on 1 July 2014 and be supported by London Finance partner David Hudd as deputy CEO. Their terms of office are four years.
Warren Gorrell and David Harris were the key architects in the creation of Hogan Lovells – a global legal giant created on 1 May 2010 through the combination of mainly U.S.-based Hogan & Hartson and mainly Europe-based Lovells through a ‘merger of equals’. Both have concluded that now was the right time for a new management team to take the reins. David will be retiring from the firm while Warren will be continuing to focus on clients.
Steve Immelt has a long track record in the management of the firm, including having played a role in its international expansion and the combination. He is currently a member of the firm’s International Management Committee and global co-head of its Litigation, Arbitration and Employment practice with London partner Michael Davison.
David Hudd currently heads the global Finance practice and helped develop the firm’s leading structured finance practice. Before joining the firm as a partner in 1994, he spent almost ten years in investment banking both as a lawyer and as head of structured finance.
Hogan Lovells had revenues of US$1.6bn/£1.03bn in financial year 2012 and has approximately 800 partners and 1,700 other qualified lawyers operating in 25 countries and 45 offices around the world. Across the regions, the Americas represent approximately 45% of total billings, London and Continental Europe 48%, and Asia and Middle East 7%.
Recent major client work includes acting for BTA Bank on a US$10bn fraud claim; Apple on one of the largest corporate bond offerings ever; the sale of Russia’s largest mobile phone company; Equity Residential on its US$16bn acquisition of Archstone along with AvalonBay; JKC Australia on its US$34bn landmark “Ichthys” liquid natural gas project; and Sino-Forest’s US$1.8bn global bond restructuring.
The firm has also recently expanded its presence in a number of emerging and major markets, including Brazil, Indonesia, Mongolia, Luxembourg and South Africa. This follows expansion in other markets which are becoming hubs for their regions, including Dubai and Singapore.
Nicholas Cheffings, Hogan Lovells’ Chair said: “Our partners were clear that now is the right time to move to a single CEO. Steve is the obvious and clear choice. He is a clear and strategic thinker with a wide knowledge of the firm. His approach to leadership is based on teamwork and inclusion. He is committed to the firm’s focus on client service and on good citizenship. He was a key part of the management team involved in the creation of Hogan Lovells and has a very good sense of what it takes to manage a law firm of this size and scope. The Board was unanimous in recommending him to the partnership for the role.
“David Hudd has the experience and qualities to be an excellent Deputy. He is very focused on results and client service and has a strong reputation for getting things done. Both David Harris and Warren will remain active in their roles up to the end of June.”
Steve Immelt said: “The firm is in a very strong position, our best ever. If elected, it will be a privilege to succeed David and Warren. We are recognized as one of the world’s leading law firms with unique strengths in many practices and industry sectors, a focus on understanding our clients’ business needs; and providing creative insight and practical solutions across our geographic reach. We have delivered a strong track record of winning client work across many of our markets under tough conditions. I am looking forward very much to continuing to work with David and Warren as we move towards 1 July.”