Milbank seals City coup with hire of four-partner Cadwalader restructuring team
Cads loses quartet led by ex-Linklaters partner Ng as firm posts 10% London revenue rise
January 17, 2018 at 10:37 AM
3 minute read
Milbank Tweed Hadley & McCloy has raided US rival Cadwalader Wickersham & Taft for a four-partner London team led by restructuring star Yushan Ng.
Ng, who has been at Cadwalader since joining from Linklaters in 2012, is joining Milbank alongside fellow restructuring partners Jacqueline Ingram, Karen McMaster and Sinjini Saha.
He served as global co-chair of the US firm's financial restructuring group and specialises in cross-border restructurings, insolvency proceedings and financing work.
His clients include Oaktree Capital Management, Centerbridge Capital Partners, GSO Capital, Apollo International, Avenue Capital, Alchemy Special Opportunities and Njord Partners.
He made partner at Linklaters in 2008, after qualifying at the firm in 2001. He said: "I'm still very positive about Cadwalader and I've had a great time here. When I came out of Linklaters to grow a hedge fund restructuring practice they gave me all the support I needed. We're looking forward to a bigger platform."
Ingram and McMaster also joined Cadwalader from Linklaters, where they were both managing associates. They joined in 2013, with McMaster making partner in 2014 and Ingram promoted last year.
Saha, meanwhile, previously worked at at Simpson Thacher & Bartlett in London, were she sat in the European private equity and US securities practice.
Milbank London co-head Suhrud Mehta said: "We have found a compelling opportunity to do something truly spectacular on the financial restructuring side in London, broadening and deepening both our bench and client base. We will now have one of the largest financial restructuring practices in London and when combined with our New York capabilities, it really boosts our global practice."
Additionally, fellow financial restructuring partner Louisa Watt is also leaving Cadwalader, for a move to Brown Rudnick's City base. She will join the US firm as co-head of its European finance and special situations practice.
Brown Rudnick London managing partner Neil Micklethwaite said: "We believe that the appointment of Louisa represents a game-changing moment in the firm's development – elevating our proposition still further."
The exits leave Cadwalader with four financial restructuring partners in its City base, including London managing partner Gregory Petrick.
Milbank last made a lateral hire to its London office in 2015, when it took on Clifford Chance London banking partner Nick Swinburne for its global transportation practice.
The exits from Cadwalader comes as the firm posts a 10% increase in London revenue to $50m – its highest in a decade and its sixth year of growth, according to the firm.
Petrick said: "We wish our former partners well, but our strategy of growing the office in key strategic areas remains fully in place. We plan to continue to invest in and recruit partners who share our vision and commitment to long-term success."
Firmwide managing partner Pat Quinn added: "We have refocused our practice and are confident that we will continue to grow while providing our clients with superior service. Our firm is coming off a very successful year overall, and the London office has played a big part in that success. "
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