Musgrave joins College Hill as partner, jointly heading its technology, media and telecoms division alongside Adrian Duffield.
‘We have an open-door policy for partner-level expertise,' said College Hill founder Alex Sandberg.
He added: ‘Sara is feisty with tremendous knowledge of her sector - just the sort of character we look to hire.'
Musgrave said she looked forward to making the most of College Hill's resources. Neither she, College Hill nor Smithfield would comment on which clients will move with her.