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Wragge & Co has lost its fifth partner in six months, with private equity partner Peter McLintock quitting to join the Birmingham arm of Midlands rival Hammonds.
McLintock, previously a senior legal adviser to venture capitalist 3i is leaving the Birmingham giant to head up Hammonds’ Midlands private equity practice.
Confirming McLintock’s resignation Wragges’ senior partner Quentin Poole said: "We’re sorry Peter’s going but the move’s a good opportunity for him and we wish him lots of luck."
His resignation comes just days after corporate partner Nick Smith who has been a partner at Wragges for five years announced his departure to join Japanese investment bank Nomura in a non-legal role (first reported on www.thelawyer.com/lawyernews on 2 June).
Meanwhile, last December highly rated litigation partner Ann Benzimra left to join Hammonds, in March competition partner Guy Lougher left to join Pinsents as national head of department and in April partner Beverly Sullivan left to pursue interests outside the law.
The resignations coincide with an announcement from Wragges that average profits per partner have plummeted 17.6 per cent to £210,000 even though turnover remained static at £79.3m.