Leading regional firm Addleshaw Booth & Co is overhauling the management of its corporate finance group.
Incumbent Jonathan Shorrock is stepping down in May to be replaced by highly-regarded corporate finance partner Sean Lippell.
Shorrock will return to fee-earning full time after three years as manager of the group. He has a range of big-name clients, including Trinity Mirror.
Lippell joined Addleshaws 18 months ago from Garretts, where he was North of England managing partner.
One of his first acts as head will be to make partners focus on rainmaking. He says: “One of the challenges is to get all of the partners facing outwards in a consistent and coherent way. It’s about spreading the marketing load a bit wider across the practice.”
Private equity is one area that Lippell hopes to boost. “There’s a whole wall of private equity money out there, and it’s got to find a home somewhere,” he says.
A range of leading firms, such as SJ Berwin, already dominate the private equity market in the City. But Lippell remains upbeat about the competition, claiming that he will be targeting smaller houses and second-tier banks instead.
He will also build up the London practice. “We need to get good people in London,” he says. “But whether that will be through laterals or rearranging our resources is something we have yet to look at.”
The corporate practice group, which has 24 partners, is based at Addleshaws’ Leeds, Manchester and London offices. Although Lippell will remain in Leeds, he will divide his time between all three sites.