McCann FitzGerald names new chairman

Irish firm McCann FitzGerald has named banking partner John Cronin as its next chairman with his four-year term due to start next May.

Cronin succeeds Ronan Molony, who has served as chairman for three terms and will return to full time fee earning.

The firm has also named David Lydon as head of corporate. He has taken over the role from Paul Heffernan, who has stepped down after a four-year term.

Cronin, who ran McCann FitzGerald’s London office for 10 years from 1991, said he intends to continue doing some fee earning when he takes on the management position.

“I still see my role as being client-facing and I will be in contact with clients. It’s extremely important to stay close to clients and understand what their needs are. I don’t think it’s a good idea to do no fee earning,” said Cronin.

Cronin mainly acts for major Irish plcs and counts Independent News & Media and Anglo Irish Bank among his clients.

Having joined McCann FitzGerald as a trainee, Cronin had a spell as an associate at Freshfields Bruckhaus Deringer in London prior to rejoining the Irish firm as a partner in 1991.

On the corporate front, Lydon specialises in M&A and corporate reorganisations. According to Cronin the practice has had a strong year in 2007, having acted on the €5.7bn (£4.1bn) takeover of DePfa Bank by Hypo Real Estate, Intel’s $110m (£53.2m) acquisition of Havok and C&C's €249m (£179m) soft drinks business disposal to Britvic.