Photo: Diego M. Radzinschi/ALM
Hogan Lovells has confirmed its next CEO and deputy CEO, both of whom are set to begin four-year terms in July 2020.
Following a mandatory partnership vote, the firm has confirmed Miguel Zaldivar and Michael Davison as its new CEO and deputy CEO, respectively, after the pair were unanimously recommended by the firm's board over the course of the last month. The vote closed Dec. 18.
Zaldivar, the firm's Asia-Pacific and Middle East chief executive, will succeed incumbent CEO Steve Immelt on July 1, 2020, while Davison, the global head of arbitration, litigation and employment, will take over for outgoing deputy CEO David Hudd on the same day.
Immelt and Hudd will step down after six years in their respective roles. Under their stewardship, the firm's revenue rose from $1.7 billion in 2013 to $2.1 billion in 2018, with profits per equity partner rising from $1.2 million to $1.4 million over the same period.
The firm said Zaldivar was recommended to the partnership following an internal appointment process that started in August, while Davison was recommended for the deputy role last week—his recommendation was conditional on the partnership agreeing to Zaldivar's appointment through the mandatory vote.
"I see my priorities as focusing on client service, investment in our key markets, incentivizing collaboration across the partnership, managing our profitability, and supporting diversity and inclusion," Zaldivar said in a statement.
Zaldivar joined legacy Hogan & Hartson's Miami office as a partner in 2002 and relocated to Hong Kong as regional chief executive of Asia-Pacific and the Middle East last year.
Davison, meanwhile, joined legacy Lovells' London office as a trainee in 1986 and succeeded Immelt as head of the litigation, arbitration and employment practice in 2013. He has also worked in the firm's Paris office.
Law.com's Legal Week revealed the full list of the six contenders for the role of CEO in October. Half of them were based in the London office.
"Miguel and Michael are an excellent choice," Hogan Lovells' chair, Leopold von Gerlach, said in a statement. "They possess all the attributes necessary to drive a firm with our global reach.
"I'd like to thank all of those candidates who put themselves forward for the CEO role. We had extremely qualified and motivated candidates, and it is a reflection of the strength of the talent within firm that the board was faced with high-quality choices when it came to recommending our next CEO."
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