Proskauer Rose Elects Timothy Mungovan as New Chair (1)

Proskauer Rose’s partnership has elected Timothy Mungovan as its new chair.

Mungovan, a member of Proskauer’s executive committee and chair of the firm’s securities litigation group, will begin his term in April 2024. He succeeds current chair Steven Ellis, who announced in December that he will step down ahead of the end of his term due to a health-related issue.

Mungovan joined Proskauer in 2012 from Nixon Peabody where he was the founder and leader of the private fund disputes practice as well as the leader of its commercial litigation practice. Since joining Proskauer, he has built the firm’s asset management litigation practice and previously served as chair of its litigation department.

“It is an honor to step into this role and I am truly grateful for the support and confidence of my partners,” Mungovan said in a statement. “Thanks to Steve’s tremendous leadership, Proskauer is experiencing great momentum,” he added.

Timothy Mungovan

Photo: Proskauer

Ellis took on the role of chair in January 2020, succeeding Joseph Leccese. He joined Proskauer in 2004 and helped form the firm’s private credit group.

Over Ellis’ tenure as leader, the firm jumped from $989 million in gross revenue to $1.24 billion, according to figures reported by the American Lawyer.

“I am delighted that Tim has been elected as my successor,” Ellis said in a statement. “I have every confidence that Tim will continue to drive Proskauer forward as a destination firm for talent and clients across the globe,” he said.

Mungovan has been the lead litigator representing the Financial Oversight and Management Board for Puerto Rico over the last six years in the restructuring of Puerto Rico’s debts, one of the most active litigation dockets in the US.