SNR Denton London banking partner Michael Black is set to leave the firm to join Norton Rose.

Black, who is co-head of SNR Denton's financial institutions and funds sector group, joined legacy Denton Wilde Sapte in 2003 from Theodore Goddard (now Addleshaw Goddard), where he had been the firm's head of banking. He originally qualified as a barrister and lawyer in New Zealand in 1992 and has been working in London since 1995.

He specialises in secured corporate lending transactions with particular emphasis on asset-based lending, restructuring and structured real estate finance. He acts primarily for banks and other financial institutions on a range of transactions and restructurings.

Black is a senior equity partner at SNR Denton and is the relationship partner for clients including the Royal Bank of Scotland (RBS). Litigator Rory McAlpine, who has handed in his notice to join Skadden Arps Slate Meagher & Flom, is also a relationship partner for RBS, with SNR Denton understood to have handed the relationship to former chief executive Howard Morris in the wake of the resignations.

Norton Rose banking head Jeremy Edwards said: "Asset-based lending has seen a sharp rise in popularity in the USA and Canada in recent years. The European market remains relatively small by comparison, but it's likely to see significant growth in the coming years.

"Our own asset-based lending capabilities have benefited by our recent expansion into Canada. Bringing Michael on-board means we will now also have one of Europe's foremost lawyers in this area, helping us to service the needs of our Canadian and USA clients, and also putting us in a strong position to help our European clients as the market grows here."

The news comes after SNR Denton saw two other London banking partners leave the firm, with social housing specialist Ian Roberts set to join Pinsent Masons and James Linforth joining Stephenson Harwood.