Allen & Overy (A&O) has seen two City partners quit for New York firms, with capital markets expert Angus Duncan leaving for Cadwalader Wickersham & Taft and securitisation partner Julian Tucker moving to Shearman & Sterling.

Duncan specialises in structured finance and CDO deals and will join Cadwalader's City finance practice, which includes rated partner Chris Kandel.

Duncan spent four years in A&O's Tokyo office, serving as the local managing partner from 1998-2000, and has particular experience in repackagings and collateralised debt obligations.