Loeb & Loeb will have new leadership in February when co-chairs elect Mitchell Nussbaum and Arash Khalili take over for current chairman Kenneth Florin, the Am Law 200 firm announced on Thursday.

Khalili and Nussbaum currently co-chair the firm’s capital markets and corporate department. In an interview, the duo said they were unanimously elected after Florin decided to return to full-time practice instead of seeking a third term. Nussbaum is based in New York while Khalili is in Los Angeles.