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Ashurst has completed a major revamp of its corporate management structure with Stephen Lloyd taking up the newly created role of global corporate head.
Lloyd’s former role of London corporate head will now be scrapped, with a group of three or four partners expected to take over his responsibilities.
Meanwhile, former German managing partner Simon Beddow will become European managing partner for the corporate team.
The changes come after former corporate chief Adrian Clark last month announced he would stand down having completed two full terms in the job. Clark, whose full title was European head of corporate, was responsible for the practice in all jurisdictions apart from the far east, where Asian chief and former firmwide senior partner Geoffrey Green held sway.
In his new role Lloyd is now expected to work alongside Beddow and Green to build the global practice.
“The idea is that we have a really joined-up approach between the European and London offices,” said Lloyd, commenting on the new structure. “The partnership has all sorts of strengths in different places and the aim is to capitalise on that.”
Lloyd will move into the top job later this year having taken over from Roger Finbow as London corporate managing partner in 2009. He stressed that the job will allow him time to continue fee-earning.
“I love doing deals,” he added. “I’m absolutely going to be 100 per cent a fee-earning partner.”
Beddow, a partner since 1998, ran the firm’s German office from 2005-09.
He commented: “Having worked in our offices in Germany and Paris, I look forward to continuing my involvement with our Continental offices. We have a great team in place and helping to steer corporate through this next stage in its development is an exciting opportunity.”
The move comes after senior partner Charlie Geffen consulted with the wider corporate team on what shape the practice should take following Clark’s decision to return to full-time fee-earning.
Geffen said: “Stephen and Simon will make a great team. I’m confident that they’ll play a significant part in the continuing success of Ashurst’s corporate practice.
“I’d also like to thank Adrian Clark for the notable contribution he has made over the last six years and the corporate practice will, of course, continue to benefit from his advice and experience going forward.”