Allen & Overy (A&O) has elected Stephen Kensell and Andrew Trahair as joint managing partners of its banking practice. The pair was formally voted in on 30 April. Both were originally partners in the firm's banking practice. Kensell and Trahair take over the position from Christopher Rushton, who is rejoining theprojects team. Michael Duncan will continue as chairman of the global banking practice, which he has led for four years.