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Two more partners are quitting Morgan Cole, taking the number of partner-level departures from the troubled firm to a staggering 60 in just five years.
Corporate finance rainmaker Duncan MacIntosh, who has been focusing on the Thames Valley, is joining the Cardiff office of Palser Grossman.
Sources close to Morgan Cole described Jenkins and MacIntosh as “big hitters” who were part of the firm’s core.
Reading-based Jeff Jenkins, a corporate and commercial specialist, will join Swindon-based niche firm Clark Holt.
Both Jenkins and MacIntosh were with Morgan Bruce before its 1998 merger with Thames Valley firm Cole & Cole. Their departure follows that of Cardiff intellectual property partner Michael Lindsey to Edwards Geldard.
Blighted by poor profits and management problems, Morgan Cole has already seen its London office depleted this year. Five partners have left the office in recent months, while Morgan Cole’s head of client services Bleddyn Rees has recently taken up a secondment with the NHS, leaving just five partners at the Fleet Street premises.
Until now, the legacy Cardiff partners have mainly stuck together, with Reading, Oxford, Swansea and London bearing the brunt of the departures.