Karen Davies has been re-elected to serve a second term as Ashurst’s chair.

The Anglo-Australian firm’s former UK head of corporate will begin her second term on 1 August.

When she took up the role in 2021, she became the first woman to lead the firm.

At Ashurst, the chair role is a non-executive one, meaning Davies will continue to oversee the firm’s strategic direction while also maintaining her practice as a corporate partner. 

Global chief executive Paul Jenkins, who was re-elected to serve a third term in the role in 2022, praised the highly rated M&A lawyer for her “exceptional” ability to chair the firm while “maintaining a thriving practice”.

He added: “Karen and I will continue to work closely together to deliver outstanding results for our clients, our people and the firm.”

Davies said: “Together with the Board, Paul and the Executive team, and our global partnership and people, we will continue to build on our achievements and drive the firm forward.”

Recent deal work includes advising XLMedia on the sale of its North America business to Sportradar AG and Lazard on London-listed Fluid Systems' acquisition by Canada's ABC Technologies in a £1bn deal.

Ashurst is aiming to become a £1bn firm this year after a strong performance across all its regions and industries fuelled a 9% rise in turnover to £961m in the year ended 30 April 2024.