Baker & McKenzie's New York office is launching an assault on the US securitisation market by taking on two partners and four senior associates from Willkie Farr & Gallagher.
Richard Rudder and David Wolin both joined Willkie Farr in 1994 and worked on a series of cutting edge securitisation transactions. Wolin said that Willkie Farr just could not compete with the "fabulous international reach" of Baker & McKenzie, which he said will allow him to work on global securitisations by companies looking to raise capital in the US. Baker & McKenzie corporate partner Janna Bellwin said that the recruitment of the securitisation unit was a key plank in the firm's North American expansion plans. While the firm has been involved in a limited number of securitisation deals, there was no core securitisation unit. With the Willkie Farr team, Baker & McKenzie will target securitisation work both from current clients and from the established client stable brought across by Rudder and Wolin.