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One of the partners tipped by insiders to stand in Allen & Overy's (A&O) managing partner election is moving to New York to head the firm's US operation
Mark Welling, former managing partner of Germany and a capital markets lawyer by background, moved back to London earlier this year and is currently heading A&O's risk management function. He is set to move to New York in May next year as current US managing partner Carl Sheldon - also a former managing partner in Germany - returns to fee-earning.
Welling's move will mean that the US practice is now represented at board level for the first time.