Clifford Chance Italy managing partner Charles Adams has been elected to the firm’s management committee for a four-year term starting on 1 January 2013.
Adams, a banking partner in Milan, will represent the firm’s Continental European offices alongside existing committee members Yves Wehrli in Paris and Andreas Dietzel in Frankfurt.
He replaces Moscow finance partner Jan ter Haar, who has also confirmed he will be standing down as managing partner for the office at the end of 2012. He has been on the committee for four years (23 December 2008).
Ter Haar’s replacement as office chief will be finance partner Logan Wright, who takes over on 1 January next year.
Adams took over the role as Milan and Rome head in 2007 after predecessor Nicholas Wrigley left to join UPC Energy Partners (16 October 2006).
The 16-person committee oversees the magic circle firm’s strategy, finances, profitability and growth and is monitored by the partnership council, which consists of seven partners including senior partner Malcolm Sweeting and was last revamped earlier this year (29 February 2012).
The firm’s latest LLP accounts revealed that management committee members earned an average of £1.19m each in 2011/12, or £19m between them, 10 per cent up on the equivalent figure in 2010/11 (4 October 2012).
Clifford Chance managing partner David Childs said in a statement: “Charles has shown strong leadership of our Italian offices during a period of significant change, reinforcing Clifford Chance’s position as the leading international law firm in the market. As well as his management experience, Charles also brings an in-depth understanding of the challenges facing our financial institution clients.”