Herbert Smith Freehills will elect a sole chief executive 18 months after the merger between the UK and Australian law firm goes live next month.

Current Herbert Smith managing partner Willis and Freehills chief executive Bell (both pictured) will jointly lead the combined firm until May 2014 following the 1 October merger between the two firms. 

Bell, who has been chief executive at Freehills since 2005, has been seen as the more likely candidate to lead the combined firm after this date however it is possible that another candidate could come forward.

Willis is nearing the end of his second management term, having originally been appointed to lead the top 10 UK firm in 2008 for a two-year period that was extended for an extra year in 2009 to avoid holding two management elections at the same time, as Jonathan Scott took over from David Gold as senior partner in May 2010.

Willis was then re-elected for a further two years running from April 2011 to the end of April 2013, however this term has now been extended to at least May 2014 in light of the merger in a bid to help integration.

It is understood the appointment of a sole chief executive next year will be overseen by the combined firm's governance board and ratified by a partner vote.

The news comes after the firms outlined the new global management structure for the merged entity this summer, with Herbert Smith's CIS managing partner Allen Hanen to become EMEA managing partner, while Asia managing partner Mark Johnson will continue in the same position.

Herbert Smith global real estate head Ian Cox will be UK managing partner while Freehills' Perth head Jason Ricketts will take up the role of Australia managing partner.