Baker McKenzie affiliate FenXun Partners has made a senior hire in the financial services practice after the Chinese firm became the latest member of its global verein structure.

Kevin Yuan joins FenXun as senior counsel from Chinese firm AllBright Law Offices where he held a similar position. Based in Shanghai, Yuan advises Chinese and international banks and insurance companies on regulatory and compliance matters at various operational stages and in relation to cross-border transactions and risk control measures.

Before joining private practice, Yuan spent four years leading a China legal and compliance team at Standard Chartered Bank; prior to that, he held in-house positions at HSBC's China insurance arm and at Bank of China.

Yuan will also work closely with Baker McKenzie's financial services group which in China is led by Hong Kong partner Jason Ng. "At a time when businesses are tackling unprecedented challenges brought on by increasing regulatory scrutiny and digital and business disruptions … clients will find most valuable Kevin's notable experience and industry insights gained from having worked in the financial services sector, both as an in-house senior executive and a private practitioner," he said.

Baker McKenzie and Beijing-based FenXun joined force in 2015 to launch a joint operation office in the Shanghai Free Trade Zone; through the joint operation, the two firms are able to provide one-stop-shop services on both foreign and Chinese law advice while remain legally separate.

FenXun recently became part of Baker McKenzie's global verein structure. The move, according to Steven Sieker, firm managing partner for Hong Kong and China offices, places FenXun on an equal footing with other member firms around the globe. "This is a recognition of the strength and success of FenXun as well as the commitment of Baker McKenzie to China," he said.

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