Proskauer Rose has recruited former SJ Berwin managing partner Rob Day from King & Wood Mallesons (KWM) alongside corporate finance partner Andrew Wingfield.

Day and Wingfield are two of four partners who resigned from KWM last night (27 October), alongside UK investments funds head Michael Halford and private equity partner Jonathan Pittal.

It is not yet known where Halford and Pittal are moving to.

The news comes after KWM confirmed yesterday that it is halting its recapitalisation programme – which was intended to bring in more than £14m by the end of this week – to work out what its new financing requirements will be. The firm is aiming draw a line under the repeated delays in partner profit distributions that have plagued it for years.

Last week, it emerged that KWM is suing former co-head of corporate Richard Lever and his new firm Goodwin Procter, following a series of partner moves to the US firm. One ex-partner described the news as "the clearest indication that everything is not rosy with regards to the capitalisation", adding: "If you're about to sue people you've really got a clear indication there is a very big issue."

Day (pictured above), who made partner at SJ Berwin in 2002, was elected managing partner of the legacy firm in 2010 and retained his role after the merger with KWM in 2013. He stepped down after completing his second term in January 2015.

During his tenure as managing partner he played a key role on the tie-up with KWM. He specialises in public and private M&A, leveraged buyouts and joint ventures, and has worked with key clients including Universal Music, Qantas and Associated British Foods

Wingfield, meanwhile, has been a partner at the firm since 2009 after joining from Simpson Thacher & Bartlett where he was an associate. His practice focuses on a broad range of corporate finance and commercial work, and acts as KWM's client partner for the AA.

Legacy SJ Berwin held merger talks with Proskauer six years ago, with the firms calling off the proposed tie-up in November 2010 after nine months of discussions. At the time, Day told Legal Week that the biggest stumbling blocks were issues around aligning profitability.

In 2014, former SJ Berwin corporate head Steven Davis – another key figure in the merger discussions – quit to join Proskauer's London office.