First managing partner for Paisners as it reviews setup

City firm Paisner & Co has appointed its first managing partner.

Stephen Rosefield, a partner for more than 20 years in the company and commercial department, is taking up the new position in the 52-partner firm.

There will be no change in the role of the senior partner, a post currently held by Harold Paisner.

Rosefield's appointment follows a management review conducted over the past two years.

The review also abolishes the existing management committee and will create two new committees whose members will be elected this month.

The first committee, the supervisory board, will be responsible for the development and implementation of the business development strategy.

The board will comprise five partners as well as the senior and the managing partner.

The second, the operating committee, will consist of a representative from each of the practice areas and is expected to take responsibility for the progress of those areas.

According to Paisner, the restructuring is being carried out as part of the firms expansion strategy.