Osborne Clarke (OC) has appointed a new head of financial regulation with the hire of Addleshaw Goddard legal director David Blair.

Blair, who left Addleshaws in April, took up the new role in OC's financial services team this month. He will support financial services sector group head Paul Anning in developing the firm's non-contentious regulatory offering.

Blair's financial regulation practice focuses on corporate finance, investment management, stock broking and dealing. He advises clients on establishment and authorisation to ongoing compliance with regulatory requirements, prudential and conduct of business rules, financial crime, cross-border activities and regulatory processes.

Anning commented: "It's great news that we have secured David for this senior role within our financial services sector group. In an evolving regulatory environment, his experience and expertise adds further strength and depth to our ability to guide our clients through the complexities of financial regulation and the impact on their businesses."

The news comes after OC made up five lawyers to the firm's partnership on 1 May, in its largest promotions round since 2007. The firm's London base gained one partner and Bristol gained four.

The firm also recently announced its financial results (5 May), posting 8% revenue growth for the 2010-11 financial year.