Lawyer Tim Faries is to take over as managing partner at Bermuda-based global law firm Appleby.

Mr Faries will replace Kiernan Bell, who has completed her term of office, at the start of next month.

Mr Faries said: “I am pleased to be taking on this role at such an exciting time for our firm and I look forward to leading our first-class team to even further success.

“I would like to thank Kiernan for her outstanding job leading the office and I look forward to continuing to work with her and to the other partners as together we take this business into the future.”

Mr Faries will retain his role as global head of insurance and group head of corporate in Bermuda, while Ms Bell will continue her leadership role as group head of dispute resolution in Bermuda.

Ms Bell said: “It has been a privilege for me to serve as Bermuda managing partner and I look forward to continuing in my dispute resolution leadership role and serving our many valued clients.”

Mr Faries qualified in 1991, joined Appleby two years later and became a partner in 2000.

Among other plaudits, he is ranked by industry publication Chambers Global 2015 as a leader in his field for his major focus on corporate insurance and reinsurance transactions and structured risk financing.

Mr Faries was also recognised for his insurance industry leadership by Captive Review in its 2013 “power 50” list, when he was described as “a respected attorney well versed in the establishment and licensing of all alternative risk financing vehicles in Bermuda”.

He is a regular speaker at insurance industry conferences and also chairs the Bermuda Business Development Authority’s legal focus group, which helps to create legislative change in Bermuda.