The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
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Norton Rose's entire securitisation group has resigned for Baker & McKenzie, leaving the top ten firm with no capital markets capability at partner level in London.
The four-partner team, which comprises Jonathan Walsh, Vincent Keaveny, Bruce Somer and Ian Porter,told the Norton Rose management of their intentions this week. It is understood their billings account for some £5m a year.
The team has agreed to serve out a full 12-month notice period as Norton Rose embarks on a search for replacements.
This contrasts with Norton Rose's experience three years ago when pressure from clients forced it to cut short the notice period of its four-partner acqusition finance team which had resigned for Allen & Overy.
Norton Rose banking partner Stephen Parish told The Lawyer: "This is a setback - it's always disappointing when friends and colleagues leave."
"They've done a great job in building the business and will leave us in 12 months' time in a stronger position than when we were starting out on this five or six years ago."
"We'll continue to service clients and will have 12 months to regroup."