Freshfields has a new U.S. managing partner, elevating firm veteran Matthew Herman to succeed former U.S. head Peter Lyons.

New York-based Herman, who joined the Magic Circle firm in 2003 as it launched its U.S. M&A practice, is tracing Lyons’ trajectory. Both attorneys served as co-heads of global M&A for the firm before rising to the top U.S. role. But while Lyons ceded that position to Herman when he was promoted in 2016, Herman will handle both responsibilities moving forward.