As Slaughters reappoints senior partner, CC debates Childs' successor

Slaughter and May is gearing up to select a new executive partner with current post-holder Graham White set to retire from the firm at the end of April next year, when senior partner Chris Saul and practice partner Paul Olney will take up their second terms in office.

The magic circle firm was expected to confirm to partners yesterday (10 May) that White will step down from the role and leave the firm, while Saul and Olney will each continue in their respective roles for a shortened term of three years.

All three took up their current posts for five-year terms running from 1 May 2008.

There is currently no replacement for White (pictured) and a successor is expected to be announced early next year. It is understood that White only ever intended to carry out one term in the role, while no other senior partner or practice partner has ever completed two full five-year terms at the elite City firm.

Confirmation of the firm's leadership team follows a consultation with partners earlier this spring by the board, with partner soundings confirming that they were happy for Saul and Olney to continue. No formal vote was required, paving the way for Saul and Olney to continue in their roles until April 2016.

Saul's predecessor Tim Clark held the senior partner role for seven years, while Giles Henderson before him served eight years at the helm.

The practice partner position was only introduced by Slaughters in 2001, when former capital markets head David Frank was appointed. Olney replaced Frank in the role in 2008.

News of Slaughters' management trio comes as partners at Clifford Chance (CC) have started to speculate about who will replace David Childs as global managing partner when his second and final term comes to an end in two years' time.

Childs took up his current four-year term on 1 May 2010 and is unable to stand again as there is a two-term cap on the role.

Elections for his successor are expected to take place next year, with partners already touting Paris head Yves Wehrli as a likely candidate. Other names suggested by partners as possible contenders include global corporate head Matthew Layton and London and Middle East managing partner David Bickerton.

One CC partner commented: "The really big topic is who will succeed David Childs in two years' time. Wehrli has lined himself up but London partners want a London candidate. Matthew Layton would be ideal but the question is whether he will do it."

A former CC partner said: "The [London partner] who would stand the best chance would be Bickerton and he is under pressure from partners to put his hat in the ring."