Hogan Lovells partners have reappointed Miguel Zaldivar as the global law firm’s chief executive officer for another four-year term.
Zaldivar has led Hogan since 2020, overseeing record financial results the following year and navigating slowing demand across the legal industry since that time. His second term, set to run through 2028, comes after the firm walked away from merger talks with New York’s Shearman & Sterling.
“Miguel and his management team have delivered outstanding results over the past three years, steering our firm through turbulent and unprecedented times to achieve our highest ever financial performance,” said Marie-Aimée de Dampierre, a Paris-based Hogan IP partner and chair of the firm’s board, said in a statement. “He has a clear vision and strategy, which we believe will lead us to even greater success.”
Hogan’s global board unanimously recommended that Zaldivar remain in the post, the firm said Tuesday. The international transactions lawyer is currently based in Washington.
Hogan reported more than $2.4 billion in gross revenue last year, putting it among the 15 largest law firms in the US. Its profits per equity partner came in just under $2.3 million, according to the firm.
The revenue figure ticked down about 6.7% from the firm-record reached in 2021, which Zaldivar previously attributed to a slowdown in M&A transactions.
The firm is on track for “an extremely strong year” in 2023, he said in an interview. Zaldivar touted Hogan’s overall financial strength, which he said is due in part to its “very, very strong balance sheet.”
Hogan is still open to the right merger opportunity going forward—but isn’t “looking for it"—after the Shearman talks fell through, according to Zaldivar. He said Hogan is also receptive to “high-performing” team lateral moves into the firm.
Zaldivar previously led the firm’s Asia-Pacific operations and has a lengthy resume in US, Asian, and European project development and finance work. He said the switch to focusing on management at first was not easy.
“It was hard to become a full-time CEO,” Zaldivar said. “Now, that challenge is over and I really love it.”
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