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I'd consider following tbh. It's rare to find a real advocate. Plus since he knows you, he may have good reasons to think you'd do well at the new firm
Depends on the firm, size of your space (does it fit 2 MDs?) and personality of your boss. You’re a director now, aiming to become an MD. Likely your former boss likes you because you were executing his stuff. Is he going to allow you to follow your own path, get your own clients and get promoted to MD in this new place?
Depends on the firm