A&O appoints incoming Germany chief as new global head of tax
Allen & Overy (A&O) has elected a new global head of tax as the firm reshapes the practice's management committee. German partner Gottfried Breuninger will now lead the tax management committee alongside two deputy heads - City tax partner Chris Harrison and Luxembourg tax partner Jean Schaffner. All three were elected after a contested vote last week.
November 10, 2010 at 06:39 AM
2 minute read
Allen & Overy (A&O) has elected a new global head of tax as the firm reshapes the practice's management committee.
German partner Gottfried Breuninger will now lead the tax management committee alongside two deputy heads – City tax partner Chris Harrison and Luxembourg tax partner Jean Schaffner. All three were elected after a contested vote last week.
The group will now draw up strategy plans for each of the tax practices in the firm's global network, including looking at where and how the practices can grow and develop.
Prior to the elections, A&O's tax group was coordinated by the firm's global tax board led by chairman Jean Schaffner alongside partners Chris Harrison and Jack Heinberg. The committee was in charge of managing the firm's tax practice, but did not take an active role in moulding its strategy.
Breuninger (pictured) said: "Through the set-up of this new tax management group we will be placing greater emphasis on the growth and operation of our global practice. In light of A&O's international growth, particularly in Asia-Pacific, Central Europe and Russia, we need to focus our attention on creating a truly global tax practice, and we have been elected to take this forward.
"The previous management structure had a more regional focus and has worked well up to now, but we needed to change so that we can better address the increasing demand for a fully integrated global tax capability in respect of both transactional and standalone work."
The new roles are effective immediately for a term of four years. Under the old regime the partners each assumed the role of chairman for two years on a rotational basis.
Breuninger is also set to take over the role of managing partner in Germany in January 2011 as Peter Stenz's three-year term comes to an end.
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