Slaughter and May’s first-ever female partner, and financial regulation group head, has retired after 37 years at the City firm.
Lawyer Ruth Fox joined the firm as a trainee in 1977 and joined the banking group partnership in 1986, before establishing its financial regulation group a decade later.
One of the group’s two key partners, Jan Putnis, took the reins after Christmas. As newly-appointed practice group head, he has taken on a number of Fox’s former administrative roles.
Putnis also remains coordinator of Slaughter’s financial institutions sector group – a role he picked up in 2013 due to the central role of regulatory know-how in general financial transactions. The group arranges regular meetings, training sessions, and joint pitches between different practice groups within the firm.
“Financial regulation is a growing area with significant potential for the firm,” Putnis said. “Partners from other areas – both contentious and non-contentious – are very interested in it. It’s a hub for knowledge and client development, and business development is a big part of my role.”
He continued: “We’re doing more pitching than ever before in this area, and there’s a lot in the pipeline in terms of new work.” The group has recently advised Deutsche Bank in relation to aspects of its ongoing LIBOR investigation, picked up an instruction from Barclays, and worked for a number of new challenger banks including Shawbrook.
Putnis has an eye on growing the financial regulation groups’ headcount over the coming years, increasing the number of associates and promoting new partners. “We largely rely on new qualifiers, but can’t rule out lateral hires,” he added.