Norton Rose‘s US corporate finance team has lost almost 60 per cent of its lawyers after seven associates resigned during the past eight months. But the firm has pledged to rebuild.
A senior associate from California-based firm Cooley Godward joined the team last week, bringing the number of current lawyers in the team to five, plus two partners.
The firm at one stage had 18 associates, but practice head Tom Vita told The Lawyer: “Previously we had too many people on and not the right people on.
“We’ve had two more recent departures and another one going, but we’ve had one start [last] week and we’ve got another two coming in September.
“We’re actively trying to bring more senior and junior people on board.
“We have an issue with the timing of departures against arrivals, but the workflow is well in hand and we wouldn’t take on anything we couldn’t do.”
The London-based team headed by Vita has at least one associate serving out a notice period, while The Lawyer understands another is on maternity leave, leaving three associates committed to the firm.
The firm has not yet replaced Richard Baumann, co-head of the group with Vita until he left for Dorsey & Whitney in September 2004, while partner Dan Dillon works solo in the practice out of Hong Kong.