Eversheds is set to lose one of its best-known lawyers in the northeast as Ian Gilthorpe prepares to launch his own law firm.

Gilthorpe is due to leave Eversheds' Newcastle office in the coming months to launch a local boutique which will primarily act for local corporates and high net worth individuals.

Gilthorpe, who specialises in corporate finance, joined Eversheds in 2008 as a corporate partner, in addition taking up the newly-created role of northeast business development partner.

Prior to Eversheds, Gilthorpe led northeast firm Muckle, first as managing partner from 1986 to 2002, before spending five years as senior partner.

Gilthorpe will be joined at the new boutique by Eversheds corporate finance partner Alan Fletcher.

Fletcher was Eversheds' former Newcastle corporate head but stood down from the role last year to relocate to Eversheds' Edinburgh office in response to an increase in financial services work in the region.

He previously spent six months on secondment to the Bank of Scotland in 2009. However, he only spent a brief time in Eversheds' Scotland arm before returning to Newcastle.

He was replaced as Newcastle head of corporate by former Scottish Power legal director and Nabarro partner Charles Reynard, who joined the firm last January from chemical manufacturing group AZ Electronic Materials – a client of the firm – where he was general counsel and group company secretary.