Former Milbank partner Dieter Yih has re-joined prior colleagues and ex-King & Wood Mallesons (KWM) duo Larry Kwok and Conrad Chan in setting up a new boutique Hong Kong law firm.

The trio, whose outfit has been aptly named Kwok Yih & Chan, has also hired a further three associates from KWM; namely Leon Saw, who has joined the new firm as a partner, and Ignatius Seu and Vencci Ho, who have come on board as consultants.

The firm will focus on capital markets, M&A, regulatory and compliance work, and is looking to grow from a team of 12 lawyers currently to approximately 20-25 in the next year.

Corporate heavyweights Kwok and Chan left KWM in September this year, as the Hong Kong branch of the firm gets closer to ending top up arrangemements for partner pay and running as a standalone office.

Yih, who was previously president of the Hong Kong Law Society, recently exited US outfit Milbank Tweed Hadley & McCloy as the firm wound down its Hong Kong law practice.

He and Kwok previously ran their own specialist outfit Kwok & Yih, where Chan also worked, but this was absorbed into legacy Mallesons' Hong Kong base in 2004.

Kwok became managing partner of the Greater China offices at KWM while Yih stayed for some years before departing to join Milbank in 2011.

Other partners to have left KWM in Hong Kong recently include senior disputes lawyer and former Clifford Chance partner Denis Brock, who has joined O'Melveny & Myers, and corporate partner Stuart Valentine, who was recruited by Debevoise & Plimpton.