Price Waterhouse said it nominated James J....

Price Waterhouse said it nominated James J. Schiro as chairman and senior partner of the accounting firm.

Schiro, 48, was nominated to succeed Shaun F. O’Malley next July 1. O’Malley will have reached the accounting firm’s mandatory retirement age of 60.

The nomination is subject to approval of the firm’s approximate 970 partners, a process that is under way. A spokeswoman said the firm expects to complete the vote in mid-September.

Schiro is vice chairman for the firm’s metropolitan New York region. He has been a partner of the firm since 1979. Price Waterhouse spokeswoman Jan Butler said Schiro was traveling and unavailable for comment.

Schiro built a track record for bringing in clients while working in the New York area, the “most competitive single marketplace,” said Rick Telberg, editor of Accounting Today, an industry publication.

In succeeding O’Malley, Telberg added, Schiro will have tough shoes to fill. Price Waterhouse is coming off its best year ever, with fees up 10% and consulting revenue up 20%, he said.