Mr Neville, who served as managing partner for more than a decade, will continue as a partner, heading up the firm’s corporate department.

Commenting on his successor, Mr Neville said: “I would like to congratulate Shane on his election. Shane has the experience, expertise and the personal qualities to successfully lead the outstanding team of lawyers and support staff in OFX. I look forward to working closely with Shane in the years ahead.”

Mr Crossan has wide experience across a range of practice areas and recently served as head of the firm’s litigation and dispute resolution department.

Speaking after his election, Mr Crossan said: “I am delighted and honoured to have been chosen by my fellow partners to serve as managing partner of OFX.

“It 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 OFX is ideally placed to advise.

“I look forward to working with my colleagues to achieve continued success for our clients and for the firm. I am also delighted that Richard will continue to play a key role in the implementation of our strategy and our future growth.”