Paul Hastings has announced its chairman, Seth Zachary, will step down in October 2022. Frank Lopez, co-head of the firm’s global securities and capital markets practice, will succeed Zachary as chairman.
New York-based Zachary has led Paul Hastings since 2000. A leading tax lawyer, he will remain a partner with the firm until his planned retirement in 2024.
The firm has undertaken a wholesale shake up of its management team. Washington DC-based Sherrese Smith, a media, technology and telecoms lawyer and vice chair of the firm’s data privacy and cybersecurity practice, will serve as managing partner.
Current managing partners, Greg Nitzkowski and Ronan O’Sullivan, will step down later this month and Smith and Lopez will act as co-managing partners in the interim, until they start three-year terms in their respective roles next year.
Nitzkowski has been managing partner since 2000 and will remain a partner until he retires in January 2023. O’Sullivan has been a managing partner since 2018 and will continue in his role as a corporate partner in the firm’s London office.
Zachary will have undertaken three seven-year terms by October 2022. During his time as chairman, the firm has increased from 654 lawyers to approximately 1,000. It has also added 12 new offices to its global network. Profits per partner and gross revenue have more than tripled, while revenue per lawyer doubled.