Ropes & Gray London exits mount with funds partner moving to K&L Gates
The partner exit is the eighth for the firm's London office this year
October 25, 2017 at 12:07 PM
2 minute read
City funds partner Michelle Moran is departing Ropes & Gray's London base, in what is the eighth partner exit for the office this year.
She is joining fellow US firm K&L Gate's London office as a partner in its investment management, hedge funds and alternative investments practice.
Moran joined Ropes as a partner in 2013 from Dechert and specialises in advising European and US clients on the establishment, authorisation and management of all types of retail and institutional investment fund.
K&L Gates' Europe and Middle East managing partner Tony Griffiths said: "Michelle's arrival will further strengthen our European investment management practice and our international and cross-border offerings to institutional investors and investment management clients."
She is the eighth partner to leave the London office this year. Last month, investment funds partner Monica Gogna joined those heading for the exit with a move to Dechert. Two of her fellow London partners are now at Kirkland & Ellis, with another two at King & Spalding, as well as one apiece at White & Case and Linklaters.
Following Moran's move, Ropes' London office will consist of 28 partners, following the promotion of finance duo Anna Lawry and Alex Robb in its latest promotion round.
Ropes has seen at least 23 partners leave the firm globally since the start of the year, including seven who have joined Kirkland in London, Hong Kong, New York, Chicago and Boston.
Earlier this month, Legal Week revealed that following the partner departures, the firm made retention bonus offers to associates of up to $50,000 (£37,500) per person to prevent further exits.
According to former partners, roughly five associates in the London office were offered payments of about £20,000, while other former partners said several associates in the US and Hong Kong were offered up to $50,000 to stay.
The counter-offers were made by Ropes after a number of associates whose partners had moved on to other firms were approached to follow them. Sources suggested to Legal Week that about 60% of Ropes' counter-offers to associates were accepted.
Ropes & Gray said: "We thank Michelle for her contribution to the firm and wish her all the best with her future career."
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