Dewey Ballantine’s co-chairman, Sanford Morhouse, is to step down just 18 months after taking up the position, it has emerged.

Morhouse became co-chairman of the management committee alongside Morton Pierce in October 2003, with the pair taking over from veteran head Everett Jassy. His practice focuses primarily on corporate and real estate finance, and he has previously headed both Dewey’s real estate and corporate departments. Morhouse also currently chairs the firm’s private equity group.