Shearman & Sterling's UK base is to gain a new managing partner, with acquisition finance lawyer Anthony Ward filling the gap left by Kenneth MacRitchie.
MacRitchie, ;who ;is stepping down from the position after six years at the helm in the UK, is to return to full-time fee-earning in the project finance practice.
Ward said: "I'm very appreciative of all that Kenneth has done to get us here over the past six years and I know I'll rely on his good counsel."
Ward, who specialises in acquisition finance, joined Shearman from Ashurst in 1998 with a team of four partners led by Stephen Mostyn-Williams. He has worked for clients such as Citigroup, Merrill Lynch and Texas Pacific Group.
According to Shearman partner Julian Tucker, while Ward is a positive choice for the firm he will face a tough task in the years ahead.
"It's going to be tough," he said. "Trying to make money within the challenges that the market sets us will be difficult, but Anthony's a tough guy and I think he's a good choice."
Of MacRitchie, Tucker added: "He's done six years and that's a pretty long stint. He's a deal lawyer. He likes to get down and dirty. In US firms you don't stop fee-earning when you move into management."