Ashurst CEO voted for third tenure

Ashurst CEO voted for third tenure

During the time Paul Jenkins has controlled the company, it has seen five consecutive years of growth and 40percent increased revenue

Ashurst is to appoint Paul Jenkins for a third term as global chief executive officer.

The CEO, who completed a four-year term in 2016, based at both the firm's London headquarters and Sydney office, will start a new four-year contract on 1 November.

In her remarks, Karen Davies, the company's global chair, said the board was delighted to announce Paul's re-appointment as global CEO. Over the past two years, Paul has led Ashurst effectively, particularly through the pandemic that has taken place over the past two years, as well as against a backdrop of growing challenges for our clients and disruptions in the legal industry itself. As we move into the next phase of our growth, I am confident that he will continue to lead the business forward."

In the 2020/21 financial year, Ashurst reported strong financial results, including a rise of 15 percent in profit per equity partner to just over £1 million. Over the past five years, revenue has increased by 40 percent and PEP by 72 percent.

Having established a clear vision, direction and a disciplined strategic plan it has led to favourable results, adding that the firm has sharpened its sector focus, strengthened its offering in key markets and focused on clients and people. The five priority sectors - banks and private capital, infrastructure, energy and resources, the digital economy, and real estate - now account for more than 80 percent of its revenue.

As Jenkins clarified on his reappointment, he said, "I have great ambitions for Ashurst and am excited about the opportunity ahead and confident that it will continue to grow."

According to him, there will be several challenges to face during his term.

The impact of the pandemic on Ashurst, like any other business, will last well into 2022 and beyond. In addition to maintaining the health and well-being of our people and encouraging new ways to work, we must continue to adapt to the societal and economic impact of the pandemic," he said.

Among the firm's priority sectors, Jenkins sees opportunities for growth "arising from our clients' significant investments in sustainability, energy transition, digital transformation, and new digital assets. There is a good chance that the future will be very different than the past."

Ashurst Advance, which was launched in 2016 by Jenkins, has grown by nearly two-thirds every year since it was launched. In late 2020, the firm also recruited Hilary Goodier from Herbert Smith Freehills, where she managed its tech group for alternative legal services.

The firm also established Ashurst Consulting in 2020, which now has more than 60 consultants and will generate over £10 million this fiscal year.

HFW has also announced leadership changes recently, with Giles Kavanagh, the head of its aviation practice, being named the firm's new senior partner.

Charles Adams was also named Clifford Chance's next global managing partner in December 2021 following Matthew Layton.

As part of an effort to modernize its executive function, Slaughter and May appointed Deborah Finkler as its first-ever managing partner in September 2021. Jill Hoseason joined the firm from rival Freshfields Bruckhaus Deringer for the newly-created position of Chief Operating Officer.