Norton Rose Fulbright announced late Sunday that the firm has elected a litigation partner in Houston to be its global chief executive starting Jan. 1.
Gerry Pecht is the first U.S. lawyer to take the 3,500-lawyer firm’s highest ranking leadership position since Fulbright & Jaworski and Norton Rose combined in 2013.
Pecht, who has won more than two-dozen large corporate securities class action lawsuits during his four-decade long career, will replace London-based litigation partner Peter Martyr, who has led the firm for 18 years.
“Peter built the global foundation through eight mergers,” Pecht said in an interview with The Texas Lawbook late Sunday. “The firm was looking for someone fiercely client-focused who can take the platform that we have and take it to the next level.”
Pecht, who is 66, said there were multiple candidates and a “robust campaign” to serve the next four years as CEO of Norton Rose Fulbright, which has 49 offices in 29 different countries. He will be eligible for another four-year term in 2024.
“A couple people here asked me to run and I had the full support of the U.S. contingency, and it seems like a natural progression for my career,” he said.
Pecht said that he plans to continue to represent the clients he has, but he will slowly transition to more and more management matters.
The American Lawyer reported earlier this year that Norton Rose Fulbright’s global revenue in 2019 was $1.9 billion, making it the 15th largest law firm in the world by income. But that was down from $2.1 billion in 2017.
The Texas Lawbook, however,shows that the firm’s Texas operations have excelled during the past few years.
Norton Rose Fulbright lawyers in Texas generated $397 million in 2019 – up 22% from $324 million in 2017, according to Lawbook data.
Pecht said the firm is “doing remarkably well financially” despite the COVID-19 pandemic.
“I attribute it to our diversified practices,” he said. “We did not miss a beat with the coronavirus. We were immediately on Zoom and in touch with our clients.”
There are significant challenges ahead – some because of the pandemic and some simply law practice related, Pecht said.
“It is a world out there that is largely unknown,” he said. “We have to be creative and innovative with our clients and their problems. There is no playbook.”
Pecht said the firm is fully committed to diversity and inclusion.
“As a white male, I know I must be fully committed to diversity and I will place a priority on social justice. Lawyers play a special role in society, and our firm must use its influence to fight racism, sexism and social injustice.”
In a written statement, Martyr said that Pecht’s “global personal and professional background make him well equipped to drive the firm’s global business transformation strategy.
“The firm is in good hands, and I am certain it will flourish under his leadership,” Martyr said.
Pecht has represented dozens of corporate clients in high-stakes securities litigation, including scoring big wins for Tesoro Logistics in 2015 in a shareholder lawsuit seeking to stop a $400 million merger with QEP Midstream Partners and successfully represented Magnum Hunter Resources and Linn Energy in separate 2014 securities class action lawsuits.