Cleary Gottlieb Steen & Hamilton funds partner Michael Gerstenzang has been elected as the firm’s new managing partner.
New York-based Gerstenzang will take over from current head Mark Leddy, who has been managing partner since 2011 and also resides in the US.
Leddy will remain at the firm as head of the antitrust practice.
The official handover will take place in January. A statement from the firm said Gerstenzang will continue his own private investment funds practice while serving as managing partner.
Gerstenzang joined the US firm in 1992 and became a partner in 1999. From 1994 to 1996, he was also resident in Cleary’s Brussels office.
His predecessor Leddy had a similar career trajectory, joining the firm as a partner in 1986 and spending three years in Brussels between 1991 and 1994.
Cleary’s managing partner terms last for three years. Leddy replaced Mark Walker in the top job in 2011 after the latter stood down to take up a role in Lazard’s Paris office.
The US firm posted global revenues of $1.2bn in 2015/16 – a decline of 3 per cent. In London, turnover is estimated to have reached $119m.
The post Cleary elects funds partner as new global head appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.