Davenport Lyons has closed its film and TV group following the retirement of department head Leon Morgan and senior partner Richard Moxon, resulting in four redundancies.
According to sources the department has been winding down over the last 18 months. Morgan and Moxon, the two most senior partners in the group, were understood to have held the key relationships with the group’s biggest clients including Barclays Bank.
Sources say some staff have been offered jobs in other departments within the firm, while others have left for roles elsewhere. Film and TV finance partner Sam Tatton-Brown started a new role at Lee & Thompson on Monday (8 November 2013).
In total there have been four redundancies, impacting two fee-earners and two non-fee-earners within the group. No associate jobs were cut from the department.
When asked about the move a spokesperson for Davenport Lyons said all the media departments, including music, have merged, working under the umbrella of IP, media & technology. However it is understood that film and TV was the only department facing redundancies.
A spokesperson said: ”In order to reflect current media business requirements, Davenport Lyons has decided to merge all its groups active in this sector. As a consequence, our music, film and TV and IP/IT teams have merged into the IP, media and technology department.
“This means that we mirror the reality of our clients’ businesses by providing a broad range of specialist expertise to our clients from one group. This has resulted in some rationalisation and restructuring which we regret has resulted in the consequential redundancies of two fee-earners and two non-fee-earners.”
It is not known what impact the department’s closure will have on Davenport Lyons’ panel place for Barclays.
Morgan is expected to remain at the firm on a consultancy basis until the end of the year.