Sidley Austin finance partner Matthew Dening is to take over from Drew Scott as head of the London office, the first time the role has changed hands in 15 years.

Dening, (pictured) a structured finance partner and co-head of the City office's global finance practice, joined Sidley from Baker & McKenzie in 2004.

He advises on cross-border structured finance transactions involving derivatives and securities lending, and earlier this year led a team on a £5bn reinsurance deal with Aviva Life & Pensions UK.

Dening will take up the reins on 1 July this year, replacing tax partner Scott, who has been London managing partner since 1999. With more than 100 lawyers, including 41 partners, Sidley's London office is the firm's largest outside the US.

Speaking to Legal Week, Scott said he would now move back into full time fee earning.

"I've enjoyed it," Scott said. "It's been challenging – there have been good times and bad times – but more recently there have been some good times and so it's probably a good point to hand over."

Scott, who has been working alongside Dening on various managerial matters for the last year, added: "Sidley doesn't appoint people for specific terms, and there's no specific end point to Matthew's appointment."

The move follows last year's appointment of Carter Phillips as firmwide chair of the executive committee, replacing Thomas Cole after 15 years in the role.

Last month, Chicago partner Larry Barden also stepped into the position of vice chair of the firm's management committee, succeeding Chuck Douglas who had also enjoyed a 15-year tenure.

George Petrow will retain his position as Sidley's European managing partner, and continue to split his time between New York and London.

For a 2010 Dealmaker interview with Dening, click here.