Hammonds has lost its fourth equity partner in a week, with finance star Alex Dell quitting the firm for DLA Piper Rudnick Gray Cary.
The exodus has been sparked by the implementation of new procedures on Tuesday (1 August), which will limit the number of days on which partners can resign from Hammonds.
Dell resigned from Hammonds last week, shortly after fellow London-based partners Chris Marks and Jane Marshall announced their departures for DLA Piper and Macfarlanes respectively.
Birmingham property head Michael Park has also quit the firm, for HBJ Gateley Wareing’s Leicester office.
DLA Piper UK banking head Michael Burton said: “We’re delighted to recruit a true specialist in asset-backed lending. We look forward to helping him develop his practice.”
Dell specialises in asset-based lending and his clients include Lloyds TSB and Barclays. He has been a partner at Hammonds since 2001.
Hammonds confirmed that Dell had resigned.