US firm Milbank Tweed Hadley & McCloy has hired Clifford Chance (CC) London banking partner Nick Swinburne for its global transportation and space practice.

Swinburne, who joined the firm earlier this year, will become co-leader of Milbank's London transportation and space practice along with partner James Cameron.

Swinburne first joined CC in 1998 and made partner in 2008. He has experience advising airlines, leasing companies, investors and financial institutions.

Milbank global transportation and space lead partner Drew Fine said the hire was a "significant step in the continued growth" for the firm's European business.

He added: "Swinburne's considerable experience in aviation and shipping, coupled with Milbank's global capabilities, are sure to have great benefits for our transportation clients as we further grow this practice."

Swinburne's departure follows other high-profile exits from CC's London office including a trio of private equity partners. Since 2013 Kem Ihenacho, David Walker and Tom Evans have all joined Latham & Watkins.

In addition, the firm's German offices are expected to lose up to nine partners by the end of the year following a regional restructuring. Most recently, Munich intellectual property head Marc Holtorf departed for Pinsent Masons.

Separately, CC's global co-head of private equity, Oliver Felsenstein, based in its Frankfurt office, and Munich private equity partner Burc Hesse joined Latham in Frankfurt earlier this year.

CC's 581-strong global partnership has also recently voted to overhaul the firm's lockstep structure. It is understood that CC plans to make it easier to reward star performers and, at the same time, deal with those who are not pulling their weight.