Ashurst has spun off its London regulatory practice from its financial institutions group (FIG) as the firm bids to increase the profile and remit of the team.

The regulatory team will now operate as one of eight sub-groups within the London corporate practice, instead of as a smaller team within the FIG sub-group.

The decision means the group, which comprises regulatory chief James Perry and fellow regulatory partner Rob Moulton, who joined Ashurst from Nabarro in August 2010, will expand their remit to include regulatory work outside the financial services sector. The group also houses around six associates focusing solely on regulatory work.

The increased push on regulation will also see the UK team working more closely with the US team, which is headed by Washington DC partner Margaret Sheehan, who joined last year from Alston & Bird.

Global head of corporate Stephen Lloyd said: "This separation is a reflection of the fact that the firm is putting an increased focus on regulatory work. That there are now two designated regulatory partners in London creates a lot of opportunities for cross-selling and getting involved in new deals."

The other seven groups within Ashurst's City corporate practice are: private equity; M&A; intellectual property/commercial; equity capital markets; restructuring; fund formation and FIG.

In November high-profile corporate partner Steven Fox left Ashurst to join Clifford Chance following the departures of fellow corporate partners Jonathan Angell and Andrew Edge, who left for Dechert and Stephenson Harwood respectively in March last year.