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Mayer Brown has confirmed the appointment of Chicago-based corporate partner Paul Theiss as its new chair.
Formerly co-leader of the firm’s global corporate and securities practice, Theiss takes on the role from former chairman Herbert Krueger, who under Mayer Brown’s partnership agreement is not eligible for another term.
Krueger became chairman in 2009 following an acrimonious management reshuffle (28 May 2009). As part of the changes London partner Paul Maher and Washington DC partner Kenneth Geller were stripped of their vice-chairman status (13 April 2009), with Maher later leaving the firm (19 May 2009) and setting up a City base for US firm Greenberg Traurig (15 June 2009).
The current changeover comes after Mayer Brown posted a 2.4 per cent revenue rise for the 2011 financial year coupled with a rise in average profit per equity partner of 10 per cent to $1.8m (27 February 2012).
“Despite difficult market conditions, I could not be more confident about our future,” said Theiss.
A number of new partners have joined the firm this year, including London-based CMS Cameron McKenna real estate partner Chris Harvey (19 March 2012) after the firm announced it would look to real estate to differentiate it from rival US firms.
The firm also picked up a number of departing Dewey & LeBoeuf partners in New York, including structured finance partner Stephen Rooney, global insurance partner James Woods and corporate finance partner Richard Spitzer (11 April 2012).