Norton Rose aims to rebuild with new banking head

Norton Rose’s global head of banking Jeffery Barratt is stepping down to be replaced by the firm’s London banking head Stephen Parish.

Barratt will return to full-time client work in the reshuffle, which sees Parish assume responsibility for the banking and finance work of Norton Rose’s 19 international offices.

Parish said: “I’m obviously of the view that we have a first-rate banking practice, and I’m really looking forward to assisting its further development.”

Norton Rose has suffered a slew of partner departures from its banking practice in recent months, including the loss of a four-partner team to Baker & McKenzie.

“We’ve got to get more resources on our capital markets and securitisation side,” admitted Parish, adding that he was looking forward to recruiting for all of the firm’s offices.