Davis Polk & Wardwell corporate partner JAMES ROTHWELL, a capital markets and equity derivatives expert, left the firm’s New York office this month to become head of legal at hedge fund Stone Ridge Asset Management, which earlier this year made financial news headlines for a series of hires from big banks.

Rothwell, who joined Davis Polk in 1992 and made partner in 1999, is considered a thought leader in creating innovative transaction structures that have been used in the derivatives market. New York-based Stone Ridge specializes in creating financial products for mutual funds and the reinsurance industry. Rothwell leaves Davis Polk the same month the firm brought on Fried, Frank, Harris, Shriver & Jacobson special counsel DAVID ZILBERBERG as counsel for its environmental group in New York.