A new managing partner is due to take over the reins of Matheson from 1 January 2016, the Dublin-based law firm has announced.

Michael Jackson has been elected to take over as managing partner from the start of next year, succeeding long-standing managing partner Liam Quirke, who will become the firm’s chairman.

Mr Jackson has been the head of Matheson’s financial services practice for more than a decade and advises many of the world’s leading financial institutions, investment banks, asset management companies and broker-dealers.

Commenting on his appointment, he said: “I am delighted and honoured to have been chosen by my fellow partners to serve as Managing Partner of Matheson at what is a very exciting time in the development of the firm.

“The current economic and regulatory environments continue to present Irish and international businesses with opportunities and challenges in areas on which Matheson is ideally placed to advise.

“I look forward to working with my partners and our clients to achieve continued success for our clients and for the firm.”

He added: “I am also delighted that Liam will continue to contribute to the implementation of our strategy and our future growth.”

Mr Quirke said: “I know Michael will be a terrific leader of Matheson.

“Law firm leadership is about people, business and law. Michael has spent his entire career in Matheson and he is hugely respected in the market as a business leader as well as a lawyer.

“This combination of attributes and experience gives him the ideal skill set to deliver the superior sustainable performance which our people, our clients and our firm have come to expect. I look forward to seeing him lead the firm to new heights.”