Hogan Lovells CEO-in-waiting, Miguel Zaldivar

Hogan Lovells' board has unanimously recommended a successor to its outgoing CEO, Steve Immelt.

The board has vouched for Hong Kong-based finance partner and Asia-Pacific and Middle East chief executive Miguel Zaldivar.

The recommendation is subject to a mandatory partnership vote, the outcome of which is expected in December. However, a person with knowledge of the voting process said it is "highly unlikely" that the recommendation will fail.

Zaldivar can expect to start his four-year term on July 1, 2020, at which point Immelt, who has served as CEO since July 2014, will step down.

Immelt and deputy CEO David Hudd are expected to retire shortly after the transition, according to the person.

Last month, Law.com's Legal Week broke the news that six partners were in the running to succeed Immelt, three of whom were London-based, with the remaining candidates hailing from Hong Kong, Washington D.C. and Madrid.

Zaldivar, who joined legacy Hogan & Hartson's Miami office as partner in 2002, relocated to Hong Kong last year, where he was appointed regional chief executive.

He has held many other senior positions at the firm, including developing the Latin American practice and co-leading the infrastructure, energy, resources and projects practice.

In a statement, Zaldivar said: "I am extremely passionate about the firm and its success and that starts with its clients and ensuring the service we deliver to them is consistently of the highest quality.

"We are in a unique position with the depth of our practices worldwide to be the adviser of choice for clients who need their lawyers to be tuned into the financial, commercial, regulatory and political dynamics of their industries and markets."

Hogan Lovells' chair Leopold von Gerlach added: "Miguel has a long commitment to the firm and has a clear sense of his priorities as our proposed CEO including among others, focusing on client service, investment in our key markets, incentivising collaboration across the partnership, managing our profitability and supporting diversity and inclusion."