Travers names Carroll as new senior partner as firm eyes overseas growth
Travers Smith has confirmed former managing partner Chris Carroll as the firm's next senior partner. Carroll, who has been on sabbatical since his term as managing partner ended last year, will take over as the City firm's senior partner on 1 July, replacing incumbent Alasdair Douglas.
March 29, 2010 at 05:47 AM
2 minute read
Travers Smith has confirmed former managing partner Chris Carroll as the firm's next senior partner.
Carroll, who has been on sabbatical since his term as managing partner ended last year, will take over as the City firm's senior partner on 1 July, replacing incumbent Alasdair Douglas.
Douglas is set to retire in June after four years in the role and is likely to take on non-executive positions.
Carroll was replaced as managing partner by employment head Andrew Lilley in January after nine years in the post, following an election process overseen by Douglas. Earlier this year, Carroll was put forward for the senior partner position, without facing opposition.
As senior partner, Carroll will take on an outward-facing ambassadorial role as well as taking responsibility for the 63-partner firm's international strategy and developing relationships with overseas firms.
Carroll, who became a partner in 1986 and was a founding member of Travers' well-regarded private equity and investment funds groups, was responsible for forming a number of relationships with European referral partners.
The international development role fits in line with Travers' broader plans to strengthen ties with overseas firms. Last October the firm invited associates from each of its main overseas relationship firms to London for the first time to take part in a series of workshops and training sessions.
Carroll's leadership saw Travers cement its position as one of the most effective corporate and advisory practices in the City mid-tier, but also saw a sharp fall in profitability as the prolonged credit crisis hit its M&A practice over the last two years.
The firm's partner profits fell 37% in 2008-09 to £470,000, while turnover fell 20% to £64.5m.
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