Mr Cody, who also leads the firm’s derivatives practice, advises on a broad range of finance matters, including banking, debt capital markets, asset finance, and structured finance. He also regularly advises investment funds and asset managers.

Mr Molloy is also a partner in the firm’s Finance Group where he specialises in domestic and cross-border debt financings. He acts for lenders, financial institutions, corporates and private equity sponsors on a wide range of corporate and structured debt transactions, secured and unsecured lending, real estate finance, loan book portfolio acquisitions and related financings, acquisition and asset finance.

Outgoing London chief Mr Small returns to Dublin to the firm’s finance group, and will maintain his close links with the firm’s London clients.

Brian O’Gorman, managing partner at Arthur Cox, said: “Our New York and London offices are of central importance to our clients, more and more of whom have international requirements.

“Both David and Phil are outstanding lawyers and I am delighted that they are taking up these posts.”