Stuart Fuller, who has been the firm's managing partner since 2006, will officially take the reins from Milliner on 1 January 2012.

"Stuart brings to the role a broad range of skills and an outstanding reputation for delivering for clients and the firm. He has been a key member of the management team for five years and understands intimately the firm, its clients and the international markets in which we operate," said Tim Bednall, the firm's chairman.

Milliner, who has held the role of CEP for seven years, said the role had been "very enjoyable and fulfilling" in what was a time of significant change, both internally and externally.

"The firm has a clear strategy for its future growth and I am confident that, under Stuart's leadership, the firm will continue the significant momentum that we have within the firm," he said.

Fuller joined Mallesons in 1990 and was made a partner in 1997. He went on to become managing partner in 2006 and led a number of key initiatives, particularly in the areas of financial market regulation, energy and resources, and the firm's international practice.

Fuller specialises in securitisation and structured finance and is the current chairman of the Australian Securitisation Forum.

He said he is excited by the opportunity to be the CEP.

"The firm is in a terrific position, and I plan to lead a team that is restless and relentless about achieving our next goals. I am humbled by the confidence placed in me by my partners to lead the firm over the next period," he said.

The Mallesons partners approved the appointment at a meeting on 30 March 2011, following a short selection process that took place in accordance with the firm's long-term succession planning.