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Ashurst corporate heavyweight Chris Ashworth is leaving the silver circle firm ahead of a new partnership agreement.
The firm was informed by email this afternoon of his decision to resign after 23 years of practice.
Ashworth stepped down from the post of head of corporate two years ago. During his time at the firm has acted for a number of high-profile clients, including Invesco and United News & Media.
Although under the current partnership deed equity partners have to give six months notice, Ashworth’s departure date has not been announced. His destination is not yet known, but it is thought that several US firms have expressed interest.
Ashurst’s new partnership deed is currently being circulated to all partners to sign. It is understood that certain aspects have been tightened up, including provisions on solicitation of clients. However, the notice period of six months remains unchanged.
The deed also regularises the status of junior equity partner. Ashurst sources say that up until now the junior partner role has been relatively ad hoc according to jurisdiction.
Ashurst declined to comment. Ashworth could not be reached for comment.