McGrigors installs replacement chief

UK FIRM McGrigors has elected corporate partner Richard Masters as its next managing partner, with the incumbent Colin Gray set to step down after two terms.

UK FIRM McGrigors has elected corporate partner Richard Masters as its next managing partner, with the incumbent Colin Gray set to step down after two terms.

The partnership made its decision last Thursday (17 January) after Masters went head-to-head with Colin McKay, who leads the real estate finance practice.

Masters, who currently heads the corporate team in Scotland and Northern Ireland, said: “I’m inheriting the reins of a business that’s in strong shape and confident of its future. We’ve moved well beyond our Scottish roots and now have a true national practice, which I look forward to developing further.”

Masters previously divided his time between Glasgow and Belfast, having helped set up the Irish outpost in 2000. He will now divide his time between all of the firm’s offices.

Gray, whose second term ends at the beginning of April, has headed the firm for eight years, originally as chief operating officer of KLegal then, when McGrigors broke away from the KPMG tie-up, as managing partner.

The firm has also posted its first set of audited full-year financials since converting to LLP status, with a revenue of £60.5m in the year to the end of September, up by 16 per cent on last year’s £52.1m. Average profit per equity partner increased by almost 10 per cent to £306,000.