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Shearman & Sterling's former senior partner Stephen Volk is leaving to become vice-chairman at Credit Suisse First Boston (CSFB).
Volk was replaced in June as senior partner by M&A partner David Heleniak. He had been in the role for 10 years, having been a partner at the firm since 1968. He will now take up a post as vice-chairman and member of the executive board at CSFB, acting as a right-hand man to new chief executive John Mack. At the same time, the head of the firm's China practice Clark Randt has quit to become the US's new ambassador to China. He joined the firm as a partner in 1994. At CSFB, Volk will be involved in day-to-day strategic management. CSFB said his priorities will be "to forge a cohesive team among CSFB's people, maintain a sharp focus on client service and carry out CSFB's business practices in accordance with the highest standards"