Memery Crystal has appointed corporate partner Lesley Gregory to the newly-created role of chief executive, as the City law firm phases out the managing partner position.

Gregory has been appointed to the top role for a three-year term, replacing existing managing partner Harvey Rands, who will step down on 30 April.

Rands will continue in his role as head of the dispute resolution department, which he has been carrying on in tandem with managing partner responsibilities.

Gregory, regarded as the driving force behind the firm's highly-regarded Alternative Investment Markets practice, will chair Memery Crystal's management committee and lead the growth strategy, with a particular focus on planning its response to the opportunities presented by the Legal Services Act.

She commented: "I am delighted to take on this new role and help guide the firm during a period that will be both challenging and exciting.

"Harvey has demonstrated tremendous leadership during his term as managing partner, successfully guiding our firm through the toughest recession in its history. I am thankful to be assuming my new responsibilities on a solid foundation."

This is the second time that the firm has overhauled its management structure in recent years, after deciding to do away with a senior partner role in favour of a sole managing partner in 2007, when long-serving senior partner Peter Crystal stood down. Crystal had served as senior partner since the firm's founding in 1978.

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