Travers Smith has kicked off its senior partner elections as long-serving leader Chris Carroll prepares to stand down.

The City firm formally opened the process to find a successor for Carroll (pictured) at a partners meeting earlier this month (9 October).

No-one has yet put themselves forward for the position; however, partners within the firm expect that corporate head Chris Hale will be among candidates running for the top post. Hale has headed up the firm's corporate group since 2003.

Carroll's three-year term is due to come to an end on 30 June 2013, with Travers expected to confirm his successor early next year to allow for a handover period.

The firm re-elected Andrew Lilley for a second term as managing partner last month, with Lilley set to take up a reduced term of two years rather than three on 1 January.

Lilley said: "Now that we have confirmed the managing partner position here for the next term, we are beginning the process to appoint a new senior partner.

"All partners have now been offered the opportunity to throw their hat into the ring. The process will involve taking soundings from partners and, if necessary, a vote in due time."

Carroll took up the role of senior partner in July 2010 after nine years as managing partner of Travers.

He will be stepping down after a strong performance from the firm during the last financial year, with revenue climbing by 16% to £83.8m, while profits per equity grew by 23.7% to £804,000.

It is unclear whether he intends to retire from the firm next summer or stay on in another capacity.