Dewey Ballantine’s respected head of private equity, Sanford Morhouse, is to hand over the reins to his deputy, the New York firm announced today (15 February).

Morhouse had chaired the firm’s real estate and private equity groups for more than 20 years. New York -based private equity partner Joseph Smith will take over from Morhouse at the helm of the private equity practice, although it is not yet known who will replace him as real estate chief.