Nigel Knowles is set to retire as the group chief executive officer of DWF. 

Knowles will stand down 1 August, after which he will remain at the firm as a senior adviser focused on client engagement and growth. He will be succeeded by Matthew Doughty, currently CEO of DWF’s insurance services division. 

Knowles’ career in law spans more than four decades. He joined DWF in 2017 as chairman after more than 20 years at DLA Piper, where he had served as global co-chairman and senior partner among other leadership roles. 

During his five-year tenure as CEO of DWF, Knowles has overseen a period of rapid growth, with the firm increasing revenue by around 60%, or more than £175m, and trebling profitability. In late 2023 he led the business through a de-listing from the London Stock Exchange via a take-private transaction with Inflexion, bringing an end to a tumultuous period for the firm as a listed company. 

Knowles commented: “I am incredibly proud of the progress we have made over the past five years. Through the talent and dedication of my DWF colleagues, the support we provide to our clients has enabled us to achieve strong and sustainable growth. I want to thank all of those colleagues for their hard work and support, and also to thank our clients for continuing to trust DWF to be their advisers.

“Since our take private, I have been clear that I would step back from the CEO role at the right time. Having just completed five years as chief executive, I believe that this is the right time to hand on to a new CEO. I am delighted that person will be Matt Doughty, whom I’ve worked with closely during my time as CEO, and prior to that as chairman. Matt is the right person to lead the business forward and I will continue to support him however I can in my new advisory role.” 

DWF became the largest listed UK law firm when it floated in 2019 with a value of £366m. It ran into difficulty during the first months of the Covid-19 pandemic, when Knowles took over as CEO. Knowles instituted a major cost-cutting programme and was able to hail a “transformational year” when revenue rose by 12% in the 20/21 financial year to £338.1m. The firm had grown that to £435m in the year ended 30 April 2024.

Steve Varley, group chair of DWF, added: “On behalf of the board of directors, I would like to thank Nigel for his leadership over the past five years. The business is stronger and more successful today than when Nigel took the helm, which is testament to his track record for driving growth through building first class teams and outstanding client relationships. We will continue to benefit from his experience going forward.

“After following its succession planning process, the board unanimously agreed that Matt is the right person to build on the momentum that the group has generated under Nigel’s leadership. He knows this business better than anybody and is perfectly placed to lead it forward.”

Doughty joined DWF from Squire Patton Boggs in 2016 as a partner in the firm’s corporate services practice. In his nine years with the business he has held a number of leadership positions including chief operating officer and chief strategy officer, and was appointed CEO of the insurance services division in 2023. 

Doughty commented: “I’m very proud to have been elected by the board as DWF’s CEO. Our financial performance is strong and we are growing in the UK and globally. We have an outstanding group of colleagues and we are backed by a single growth investor in Inflexion, whose support is allowing us to accelerate the implementation of our strategy. 

“I’ve known Nigel for nearly 25 years and worked closely with him for eight years at DWF. He is a friend and mentor and I would like to thank him for his work over the past five years which has put the firm in this strong position.”

As group CEO Doughty will continue to have responsibility for the insurance services division, working alongside the insurance services senior partner, David Abbott.