Pinsents Manchester has lost its joint head of banking Andrew Gosnay to Newcastle-based Watson Burton.
Equity partner Gosnay left the national firm last Friday (30 April) and will be joining Waston Burton in July to head its banking practice. His clients include Barclays, HSBC, NatWest, Royal Bank of Scotland and UBS.
Although Gosnay is joining a smaller firm, his earnings will be boosted significantly, as Watson Burton’s average profits per equity partner last year stood at a whopping £420,000, compared with Pinsents’ £276,000.
Nevertheless, Gosnay denies that his decision to join Watson Burton was motivated by the money. “I’m not going just for the money. Watson Burton is a very good firm and there’s a lot of scope for me to ensure the firm gets a slice of the biggest deals,” he said.
In a separate move, Watson Burton converted to limited-liability status on 1 May.