Latham & Watkins has hired restructuring and insolvency partner Simon Baskerville from Ashurst, less than a fortnight after hiring Rob Moulton, Ashurst's global co-head of financial regulation.

Baskerville will join the US firm's London office as a partner in its finance department.

He has significant experience representing debtors, administrators and creditors in UK-based restructurings and UK aspects of international restructurings.

He also has significant experience in a wider range of corporate transactions, including public and private M&A and capital fundraisings.

Latham London managing partner Jay Sadanandan said: "Our finance and restructuring practice has established an excellent track record advising on some of the market's most innovative and challenging transactions.

"Simon's arrival will enable us to continue developing our representation of alternative asset managers across the broad spectrum of private debt finance."

Ashurst has seen several partners depart its London office recently. At the start of this month, Moulton was hired by Latham.

In April, financial regulatory partner James Perry left for Gibson Dunn, a move that will reunite him with several former colleagues. Later that month, London corporate partner Jonathan Parry moved to White & Case.

Last week, Ashurst reported disappointing results for the last financial year.

Its turnover dropped by 10% to £505m in 2015-16, down from £561m the previous year. Profit per equity partner (PEP) plunged further still, with partners to take home an average of £603,000, 19% down from last year's figure of £747,000.

The results mark a second year of declining figures for Ashurst, which posted single-digit drops in revenue and PEP in 2014-15.

It means that since 2013-14 PEP has tumbled by 24.7%, with revenue declining by 14%. The average PEP figure that the firm has posted this year is the lowest at any point since 2004-05, when it stood at £567,000.