Milbank adds third Asian rainmaker since May with hire of SH's aviation chief
Milbank Tweed Hadley and McCloy has recruited Stephenson Harwood's global aviation chief Paul Ng in Singapore. Ng, who joined Stephenson Harwood in 2009 from Freshfields Bruckhaus Deringer where he was both head of aviation and of asset finance, has worked on some of the biggest aviation deals in Asia. He is the third senior lateral partner hire for Milbank in Asia since May last year.
March 12, 2014 at 10:02 PM
3 minute read
Milbank Tweed Hadley and McCloy has recruited Stephenson Harwood's global aviation chief Paul Ng in Singapore.
Ng, who joined Stephenson Harwood in 2009 from Freshfields Bruckhaus Deringer where he was both head of aviation and of asset finance, has worked on some of the biggest aviation deals in Asia. He is the third senior lateral partner hire for Milbank in Asia since May last year.
He will join Milbank just months after it took on Allen & Overy (A&O) rainmaker Jim Grandolfo, the firm's Philippines group leader and head of US capital markets for the region, and less than a year after it recruited project finance partner and A&O Tokyo office head Aled Davies.
Milbank declined to comment, but it is understood that the firm wants to replicate its US aviation practice in Asia in line with a push towards more cross border work emanating out of the region.
It currently has partner Young Joon Kim working on aviation deals out of Hong Kong.
Earlier this week, Legal Week revealed that Milbank was planning to wind up its Hong Kong law group and surrender its local licence in a bid to focus more on the international practice.
Ng is particularly well known in the low cost carrier sector, and also works on Shariah-compliant financing transactions and asset-backed bond issuances, as well as transport and project financing generally.
Significant deals include advising Indonesian airline Lion Air on its $24bn order of 234 planes from Airbus last year, representing AirAsia on the first ever multi-tiered Islamic financing of a tax leasing vehicle for the acquisition of eight Airbus planes for $500m, and acting for the Bank of China on its $1bn acquisition of Singapore Aircraft Leasing Enterprise – understood to be the largest acquisition of an aircraft leasing company ever in Asia.
Ng spent his first seven years as a lawyer based in the UK before relocating to Asia, and trained as a barrister in England & Wales.
Having now worked in Hong Kong, Shanghai, Beijing and Singapore, he has extensive knowledge of the Asian markets and is qualified to practise Singapore, English and New York law.
In view of his departure, Stephenson Harwood has appointed London asset finance partner Richard Parsons to head the aviation practice globally and Singapore partner Saugata Mukherjee to lead in the city-state.
Sharon White, chief executive of the firm said: "We thank Paul for his work at Stephenson Harwood and wish him the best in the future.
"We are delighted to announce that Richard Parsons will be the firm's new global head of aviation. Saugata Mukherjee will lead the aviation practice in Singapore. Our aviation group is an important part of one of the leading international practices operating in the global transportation sector, with teams based in our Asia offices, London, Paris, Piraeus and Dubai."
Related: Milbank to give up Hong Kong local law practice as corporate partner eyes exit
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