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A consultant and four of the six assistants in Davies Arnold Cooper's banking department are leaving the firm.
Two of the assistants, James Dakin and Kim McMurray, who joined DAC in 1996 have gone to Nabarro Nathanson.
Assistant Lynette Denzey is going in-house to client Close Brothers and legal executive Feride Mehmet is going to a leisure company in France. Consultant Paul Webster has not yet resigned but is "considering his position", said managing partner Laurence Messer.
The banking department is left with the head partner Chris Sykes and partner John Nelmes who joined from Turner Kenneth Brown in 1994.
Messer said the various departures were co-incidental and not the result of a restructuring of the department. Two more assistants would be joining from rival City firms shortly and a trainee at the firm would be joining the department when qualified, bringing the total assistants to five - "the same strength as we had this time last year".
He pointed out that the department had recruited an associate, John Hayward, from Nabarros last year "who is more senior than the two who are going to Nabarros".
Nabarros' banking department now has 14 assistants and partners.