Sidley Austin Brown & Wood has lost two of the four Baker & McKenzie lawyers it hired two years ago to break into the securitisation market in Singapore
The Lawyer understands that partner Nicholas Serwer has left to set up his own practice in Singapore. Counsel Janet Taylor is thought to have joined a firm in Indonesia. The firm has also relocated a third member of the Baker & McKenzie four, partner Matthew Sheridan, to Hong Kong. This effectively means that the three main partners taken to break into the securitisation market have now moved on. At this stage, it is understood that the firm is unlikely to replace the two who are leaving, and that the slump in capital markets work was responsible for the transfer of Sheridan. "We decided that rather than try to have separate capital markets practices, we'd consolidate the practice in Hong Kong," said Ken Coty, managing partner of the Hong Kong office. The firm is one of a number that have scaled back their operations in Singapore in light of the downturn in the region. However, Linklaters has recently bolstered its presence in the region, moving Kevin Wong, the head of its Shanghai office, to Singapore to strengthen its joint venture with Allen & Gledhill.