Legal firm McCann FitzGerald has selected a new chairman, John Cronin, and the partners at rival firm Arthur Cox have re-elected Pádraig Ó Ríordáin as its managing partner.

Mr Cronin will succeed Ronan Molony as chairman of McCann FitzGerald, a role equivalent to that of managing partner in other firms. Mr Molony has held the position since 1997.

A spokesman for McCann FitzGerald said Mr Molony had signalled some time ago that he wished "to hand over to someone else" at the end of his third term as chairman next April.

Mr Cronin takes over in May. A Dublin-based partner in the firm's banking and financial services unit, he was head of its London office for 11 years and previously worked at Freshfields.

Arthur Cox said Mr Ó Ríordáin had been elected for a second four-year term with effect from today.

He has held the post since 2003 and previously led its New York office.