Norton Rose’s global head of banking Jeffery Barratt is stepping down to be replaced by the firm’s London banking head Stephen Parish.
Barratt will return to full-time client work in the reshuffle, which sees Parish assume responsibility for the banking and finance work of Norton Rose’s 19 international offices.
Parish said: “I’m obviously of the view that we have a first-rate banking practice, and I’m really looking forward to assisting its further development.”
Norton Rose has suffered a slew of partner departures from its banking practice in recent months, including the loss of a four-partner team to Baker & McKenzie.
“We’ve got to get more resources on our capital markets and securitisation side,” admitted Parish, adding that he was looking forward to recruiting for all of the firm’s offices.