Ashurst has been rocked by the news that it top-rated French banking partner Jonathan Nabarro is to quit the UK firm's respected Paris branch.

Nabarro, one of France's leading acquisition finance specialists, is believed to have resigned from Ashurst's 13-partner Paris office last week after eight years with the City-based firm.

He joined Ashurst from Freshfields Bruckhaus Deringer in 1996 and has been central in building-up the firm's local banking practice, which is seen to rival the likes of local leaders Gide Loyrette Nouel.