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Three Payne Hicks Beach private client partners will leave the firm next month to set up a boutique private client practice.
Louise Stoten, a partner at Payne Hicks for the last 10 years, will set up New Quadrant Partners along with partners Marcus Parker and Jane Bennett, who both joined the firm last year.
They will be joined by Payne Hicks associate Zoë Camp and tax and trust principal Simon Rees. Joan Major, director of wealth management at London-based multi-family office Sand Aire, will also be joining New Quadrant Partners.
Stoten said: “The new business will focus on the provision of legal, tax and trust advice and family office services to private individuals and wealthy families.”
Following the departures Payne Hicks’ private client team, headed by Alastair Murdie, will include six partners and a consultant, along with 30 other staff members.
Payne Hicks managing partner Simon Pizzey said: “The partners of Payne Hicks Beach wish Louise and other members of her team every success for the future.
“As one of the leading private client firms in the country, we continue to provide the full range of private client services including UK and offshore work, contentious trusts, probate, heritage, agricultural estates, charities, tax planning and trust administration.”
2008-09 saw a record year of growth and profitability for the firm with turnover reaching £22m. It came after a busy period in which heavyweight family lawyer Fiona Shackleton represented Katie Price, Sir Paul McCartney and Madonna in their high-profile divorce settlements.