Partners at Lovells are understood to be voting on the hire at the moment but it is thought that Ashworth is likely to join the firm as head of corporate finance.
The move follows the departure of the former post-holder Hugh Nineham to McDermott Will & Emery at the beginning of this year.
Ashworth joined O’Melveny in late 2005 to head up its M&A practice in
The head of corporate finance position has been empty since Nineham’s departure, with Lovells’ corporate head Andrew Skipper recently saying the firm had no plans to fill the role.
Should Ashworth’s hire be confirmed, it will be seen as a blow to O’Melveny’s platform in the City, as it follows the departure of finance partner Stuart Hills to Weil Gotshal & Manges earlier this month.
Lovells declined to comment. Ashworth and O’Melveny were unavailable to comment.