The London securitisation team at Mayer Brown Rowe & Maw (MBR&M) must be an unruly lot. As first reported on www.thelawyer.com (2 June), the firm has just appointed Bruce Bloomingdale and Dominic Griffiths as co-heads of the practice. Nothing unusual in that, you might think, but as the group only has four partners, it now means that half of the team is in management.
The move is obviously a reaction to the departure of securitisation star Mark Nicolaides, who left last month. Nicolaides was only the de facto head of the practice, but he did have a high profile in the market and his exit has certainly got market rivals talking.
The challenge for Bloomingdale and Griffiths is to take their practice to the next stage of its development. Nobody doubts the quality of securitisation work done by the London office, but it is still viewed as being too small and too low profile. MBR&M must be hoping that two heads are better than one.