Addleshaw Goddard is gearing up for a management election with managing partner Paul Devitt's (pictured) three-year term in office set to conclude at the end of April next year.

The firm's partnership is set to start preparing for a formal nomination process which will take place in the New Year.

Partners suggest Devitt, who replaced long-serving predecessor Mark Jones in the post on 1 May 2009, is likely to secure a second term in office to see out the firm's current strategy, including the launch of the firm's first international offices in Dubai and Singapore.

Formerly the firm's head of corporate, Devitt secured the managing partner post through an uncontested election, with Jones stepping down after 17 years to become Addleshaws' chairman.

Since taking up the role, Devitt has overseen a shake-up of the firm's governance board and executive leadership team, reducing the number of partners in management posts by eight.

However, his term has coincided with a difficult period for Addleshaws, which last year saw profits per equity partner fall by 23% to £328,000 against a 3% dip in turnover to £162m.

The firm subsequently announced it was cutting 31 jobs across its business services function as well as the plans for international expansion and a consultation on the firm's partnership structure.

One partner at the firm commented: "Paul will get at least another term before anyone decides to contest the election process. He has been leading the firm through a difficult period with the economy the way it is, and we have invested too much to not see his plans come to fruition."

A spokesperson for the firm said: "The nomination committee has asked for formal nominations in the New Year. The election process will be conducted in accordance with the firm's established protocols. We intend to make no further comment on this until the managing partner for the three years commencing 1 May 2012 has been decided."