Herbert Smith loses banking expert

Banking lawyer David Yeo has quit the Hong Kong office of Herbert Smith to join rival firm Allen & Overy.

Yeo, a former international partner at Herbert Smith, said he would be able to develop his loan-syndication practice more easily with Allen & Overy, which has a larger presence in the field in Hong Kong.

He joined Allen & Overy as a consultant this month after six years with Herbert Smith.

Paul Monk, head of Allen & Overy's Hong Kong office, said he was delighted by the appointment. "David is a respected finance specialist who will bring a wealth of experience to our team."

Clive Barnard, head of banking at Herbert Smith, said the firm's Hong Kong office was developing its asset finance capability and its capital markets work, an area in which it had not been very active.

"We have had a lot of exciting developments on the banking side in Hong Kong and David felt that they did not coincide with his plans," he said.

Barnard said UK-based Jonathan Moult, a partner specialising in capital markets, would be moving to Hong Kong shortly to head a capital markets team.