- Law firms
- Peter Michaud the first Ballard Spahr chair based outside the firm's Philadelphia home base
- Outgoing chair Mark Stewart will remain at the firm as a partner
(Reuters) - Minneapolis-based partner Peter Michaud will be the new chair of Ballard Spahr, taking over from Mark Stewart, who will have been in the position for 12 years, the firm said Wednesday.
Michaud was elected by the firm’s 227 partners and is the first chair to be located outside of its Philadelphia home base. He will take the position in December 2023.
“I'll continue to focus on lateral hiring and strategic growth, which is something I've been doing within our transactional department now for over three years," he said.
Michaud is currently chair of the firm’s business and transactions department, though he will step down when he becomes head of the firm. His replacement in the department chair post has yet to be chosen, he said.
Michaud said Stewart made the decision to step down and will remain at the firm as a partner.
He said the election of a non-Philadelphia based partner as firm chair is a testament to Ballard Spahr's national presence. He said he will spend time traveling to the firm's 15 offices.
The incoming chair joined the firm as part of Ballard Spahr’s 2018 merger with Minneapolis-based firm Lindquist & Vennum.
Ballard Spahr saw a 22% rise in profits per equity partner from 2020 to 2021 and a 10% rise in gross revenue, according to the firm.
Our Standards: The Thomson Reuters Trust Principles.