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Shearman & Sterling's tax practice has undergone more upheaval with two partners leaving the firm
Mary Wold and John Williams have both resigned to take up in-house positions at American Home Products and the Internal Revenue Service (IRS) respectively. Wold, a specialist in US and international business and financial transactions, including M&A and tax planning, was based at Shearmans' New York office. She has become vice-president of taxes at pharmaceutical company American Home Products and will begin her new role at the end of the month. The departures of Wold and Williams follow that of corporate partner Spencer Klein, who moved to Mc-Dermott Will & Emery at the beginning of February. Wold said her decision to leave Shearmans was not linked to the associate layoffs that the firm has witnessed over the past couple of months. She is understood to have found the opportunity too tempting to turn down. Williams has left the firm's Washington DC office for a government role. He will become chief counsel for the IRS and assistant general counsel in the Treasury Department. Managing partner Robert Treuhold said: "They're both first-class lawyers and we're sorry to see them go. But these are great opportunities and I think a tribute to the quality of our tax group." The departures come just months after the firm strengthened its London, Munich and New York practices with lateral hires from heavyweight rivals. In New York, the firm poached the head of White & Case's tax practice Mitchell Menaker and fellow partner Michael Dunworth to strengthen its leasing practice.