King & Wood Mallesons (KWM) tax partner Gareth Amdor and corporate partner Tim Bednall have been confirmed as the two contenders for the role of European managing partner at the firm.

Both partners had previously been touted as likely candidates. Amdor has been a partner at the firm since 2005 and serves as London head of tax and co-head of the EUME tax practice. He also heads the UK M&A tax function and the global employee incentives practice. Additionally, he is chair of the firm's finance committee and a member of the remuneration committee.

Meanwhile, Bednall is the joint global coordinator of the KWM corporate, M&A and securities practice. He was chairman of legacy Australian firm Mallesons Stephens Jaques and played a key role in KWM's 2013 merger with SJ Berwin. He relocated to London in February this year.

Nominations for the position opened on 12 September and closed on 27 September, after the firm extended the nomination period by a week.

Former European managing partner William Boss stepped down early in January. His replacement was due to be in the role by May but the decision was pushed back until the autumn.

The result of the election is expected between 4 October and 11 October. The announcement date depends on how many rounds of voting the partnership goes through.

Amdor is widely seen as the 'unity' candidate. One former partner said: "He's the right age and hasn't marginalised parts of the firm. He's quite a good unity candidate, who will appeal to the whole firm more than previous options."

However, another former partner commented: "Tax wouldn't naturally be a practice area that would command enough support. Candidates are normally drawn from groups with a larger amount of partners."

Bednall is a more politically sensitive candidate for UK partners as a former partner at legacy Australian firm Mallesons, although his prior management experience is an obvious plus. One source said: "If you're looking for someone with the gravitas and experience to do the job, he would be appropriate."

KWM is also currently undertaking the election process for senior partner, following Stephen Kon's decision to step down at the start of September.

Legal Week revealed likely candidates for the senior partner role earlier this month, with UK investment funds head Michael Halford and litigation partner Tim Taylor QC being widely touted as contenders.

Halford, who has been at the firm for 21 years, elicits praise from many, with one former partner saying he "could well claim to be the leading funds lawyer in the UK" and another describing him as "extremely clever".

Nominations for the senior partner role open next week (4 October).

The senior partner result is expected between 19 October and 26 October.

The appointment of both the managing partner and senior partner will be with immediate effect, with a term of three years for each role.

The firm has been going through a turbulent time of late and this July voted through a recapitalisation plan, which saw partners agree to commit in excess of £14m – a move described by the firm as the third stage of its "strategic plan to strengthen its EUME business".

Companies House filings also show that KWM has agreed a debenture with Barclays, giving the bank security over all of the firm's assets, including its revenue stream.