The firm has announced its board has already found the new person to fill Fagan’s shoes. Darryl McDonough will take the position on 1 July 2010.

McDonough joined Clayton Utz in 1993 and practices in corporate law, with experience in mergers and acquisitions.

Announcing the appointment today, Clayton Utz board chair Linda Evans said the new firm head is a “strong leader with deep commercial and board experience. He is strongly committed to Clayton Utz and its values and has the skills, vision and drive to guide the firm through it next stage of development”.

Fagan himself, who will stay on at the firm as partner next year, was praised for his role in helping to grow and develop the firm.

“[Fagan] is an outstanding chief executive partner … The board looks forward to continuing to work with [Fagan] as he leads the firm into 2010.”