Shearman & Sterling’s Frankfurt managing partner, Stephen Hutter, is standing down from the management position to take on a new role as head of the firm’s Europe and Asia capital markets practice.

Hutter, who joined the Frankfurt office in 1992 and has headed up the local operation since 1995, will take on the new role on Jan. 1, 2008. Dusseldorf tax consultant Reinhard Stockum is expected to replace him as head of the Frankfurt office.

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