Two CMS Cameron McKenna partners have left the firm to launch a West End tax boutique.
Tax partners Mark Nichols and Keith Gregory have set up NGM Tax Law after leaving the City firm in the autumn.
They are joined by former Camerons tax partner Simon Meredith, who has previously been running tax consultancy SC Meredith and Co.
Nichols, who spent 17 years as an equity partner at Camerons and sat on the CMS management board, has acted for clients including Accor, RBS and Lloyds. Gregory had 22 years as an equity partner.
The trio will continue to work with Camerons on joint mandates. The firm says it will not be competing against City law firms but will be looking to provide City partner-level advice for law firms and companies lacking the required in-house function.
The firm will also make use of home-based part-time associates looking for an alternative career path in the law.
Nichols said the opportunity was a function of the recession.
“The way things may go is smaller niche firms will do work going forward,” he said.
Camerons still has at least four London tax partners remaining in a group headed by Richard Croker.