Head of shipping Mark Morrison and his team of three lawyers will join Holman Fenwick in January.
The move was prompted by a review in which CC is attempting to ensure the department is focused on the firm’s most important clients and on profitable, growing sectors.
The shipping team was part of CC’s commodities litigation group which is now merging with the financial futures and derivatives disputes teams to enable the firm to continue servicing banking and commodities exchange clients operating in those areas.
The review, which was kicked off shortly after Munday took up the role as head of disputes in January, will see a number of changes to the litigation practice taking place next year, although no further closures are on the cards.
Munday added: “We are a market-leading firm and want to continue in that way. This review is just making sure the litigation practice is delivering to clients exactly what they expect of us. Our core clients no longer require a shipping litigation capability.”
CC was the last magic circle firm to operate a pure shipping practice. Top 10 firm Herbert Smith closed down its shipping practice in 1998.
Morrison had been at CC for 26 years, 14 of which were as a partner. His clients, which include shipping insurance clubs and ship owners, are expected to move with him.
The team, which includes lawyers Sarra Kay and Amanda Rathbone, will join Holman Fenwick’s trade and energy practice in the commodities group, which accounts for 25% of the firm.
Holman Fenwick’s head of trade and energy, Chris Swart, said: “The team’s reputation, experience and client base will not only enhance Holman Fenwick’s market position but broaden both our client base [and] the range of services we can offer to our existing clients, particularly in the finance and energy sectors.”
