Nabarro senior partner Graham Stedman has announced he will retire from the firm on 30 April 2016, with elections for his replacement due to take place in March.

Stedman took up the role of senior partner in 2013 after beating real estate partner Ciaran Carvalho in a heated election process. His retirement will start one year before his term is due to end although Stedman told The Lawyer he may be interested in working in other non-legal roles.

Stedman said: “I’ve always had an interest in entrepreneurs and start ups. I haven’t firmed up anything at all, but it’s an area I’m interested in. I wouldn’t be surprised if I continued to be involved in some way in that sort of market.

“I’m not going to get involved in legal practices but I have a lot of contacts in that sector. So for instance I could coach young firms on how to raise money, which is something I know a lot about, or do a bit of mentoring with them about how to start their business.”

Nominations for Nabarro’s next senior partner will be accepted in January with Stedman’s replacement set to be announced in March.

During Stedman’s time as senior partner Nabarro opened offices in Dubai and Manchester. The Manchester office was opened with a trio of partners from Addleshaw Goddard, which included real estate chief Mark Haywood.

As well as the offices the firm formalised its alliance of European law firms under the umbrella brand of the Broadlaw Group. The alliance includes French firm Lefèvre Pelletier & Associés, German firm GSK Stockmann & Kollegen, Nunziante Magrone in Italy and Roca Junyent in Spain.

Last year Nabarro’s turnover grew 8 per cent, from £116.7m to £126m, while profit per equity partner (PEP) also soared 21 per cent from £475,000 to £576,000. During Stedman’s term as senior partner PEP grew at a double-digit rate for three consecutive years.