Nicholson has been a partner in the firm’s corporate group for 17 years and was first appointed to the board in 2001. He practises in corporate transactions including mergers and acquisitions and capital raisings, with a particular focus on the energy, resource and infrastructure sectors.

At the announcement of his appointment, Nicholson said that he believed there were “exciting and challenging times ahead” for the firm.

“After 17 years of economic growth, the Australian economy, and particularly the financial services sector, is entering some difficult times. This will present challenges and opportunities for Freehills which, fortunately, we are well-placed to embrace.”

He also praised his predecessor, saying that McClellan has done a “terrific job” throughout his six years in the role, and was leaving the role with the firm in a very robust position.

McClellan, who will remain a board member and a practising partner with the firm, said the decision to step down was not easy but that he has absolute confidence in Nicholson’s appointment.