German law firm Gleiss Lutz has elected two new managing partners following its recent meeting of partners.

Ralf Morshäuser and Johann Wagner will jointly lead the firm and will take office from January 1, 2024.

One of their predecessors, Michael Arnold, has been elected as the next chairman of the firm's board of directors.

Arnold, together with Alexander Schwarz, have been managing the firm since 2016. Their term ends on December 31, 2023.

Morshäuser has been a partner at the firm's Munich office since 2007 and is the co-head of the firm's core business transactions unit as well as its head of M&A.

Wagner, meanwhile, has been a partner at the firm since 2013 at its Hamburg office and specialises in tax law. He will also take on the role of HR partner.

"Together with our partners, we want to further advance the successful development of the firm," said Morshäuser in a statement. "We are convinced that Gleiss Lutz, as a full-service law firm, has an excellent starting position in an increasingly regulatory environment. We want to use this to further develop our advisory services in a future-oriented manner and to consistently adapt our profile to the changing requirements of the market."

Under their leadership, the firm is likely to continue expanding its services having assisted Spanish telecommunications provider Telefónica with buyout plans for its German business this month as well as the hire of Stefan Widder as a private equity partner from Latham & Watkins.