Slaughter and May has appointed two new practice stream heads, with the magic circle firm also electing five new members to its partnership board.

Paul Stacey is set to take over as head of finance from Andrew Balfour, who is retiring at the end of the financial year, while Sara Luder (pictured) will replace Tony Beare as head of tax. Beare will remain a partner in the firm's tax practice.

Slaughters has also re-elected the rest of its practice stream heads, with Philippe Chappatte (competition), Richard Clark (dispute resolution), Steve Cooke (M&A), Jonathan Fenn (pensions & employment), Ruth Fox (financial regulation), Ed Keeble (environment), Frances Murphy (corporate), Rob Sumroy (IP/IT) and David Waterfield (commercial real estate) all retaining their roles.

Meanwhile, the new members of the firm's partnership board are pensions and employment partner Charles Cameron, banking partner Andrew McClean, corporate partners Simon Nicholls and Jeff Twentyman, as well as Stacey.

The trio join the board alongside existing members Clark, Cooke and Murphy, as well as senior partner Chris Saul, executive partner Graham White and practice partner Paul Olney.

Slaughters' partnership board has three main tasks – implementing the firm's strategy, formulating strategic proposals and monitoring the administration and performance of the firm.

All of the appointments are for a three-year term and will take effect from 1 May.

Saul commented: "We are delighted to announce our practice stream heads and board members who will be in office as from 1 May 2011 – they will all do a terrific job for the firm in these roles."