Pinsent Masons has elected its next senior partner, replacing longstanding incumbent Richard Foley in the role.
Andrew Masraf has been elected unopposed to succeed Foley on 1 October this year. Foley spent eight years in the position following his election in 2014 and has stepped down after having served the second of a maximum two terms.
Masraf has spent 28 years at the firm, during which he has held a number of leadership roles including global head of corporate and, more recently, global head of the firm’s transactional services group.
A private equity specialist, Masraf has particular experience in advising management teams. In 2020, he advised the CEO of British skincare and makeup outfit Charlotte Tilbury during the purchase of a majority stake in the business by Spanish fashion company Puig.
Earlier this month, Pinsent Masons announced that the firm’s average profit per equity partner figure jumped by 16% for the second year in a row – up to £739,000 from the previous figure of £636,000.
The firm’s managing partner John Cleland told Law.com International that the next focus for the firm is “primarily on driving through investment in our existing offices”. In June, the firm launched in Luxembourg, with Cleland adding that “significant investment” will also be seen there.
In April, the firm hiked newly qualified salaries in London by 22.6%, to £92,000 from £75,000. Cleland said the firm typically only reviews NQ rates once a year and said he doesn’t see the firm changing that “longstanding policy”.