For many law firms, January is a month of new beginnings and resolutions in which to deploy optimistic plans and prepare for the the year ahead after the festive break. But for Travers Smith, the dawn of 2023 brought anything but hope.

It started with the exit of the firm’s private equity and financial sponsors head, Ian Shawyer, whose move to Cleary Gottlieb Steen & Hamilton was announced in the first half of January. Then, in months following, the departures piled up.