Milbank adds two capital markets partners

Asia's excess liquidity is keeping the deal pipeline well stocked and providing plenty of work for lawyers, even though it is tough to actually launch deals.
Milbank, Tweed, Hadley & McCloy is building up its capital markets team with the hire of a partner from a rival law firm in Hong Kong and the promotion of an associate to the partnership in Singapore.

Josh Zimmerman joins Milbank from White & Case. During more than 10 years advising Asian clients on capital markets deals, his practice has focused on high-yield and sovereign debt, particularly in Southeast Asia, but more recently he has also established a track record of Chinese deals û a description that could just as easily fit Milbank's own Asian capital markets practice.

The firm claims a string of notable firsts, including the first Rule 144A and high-yield offers by Asian issuers, as well as the first full New York and London listings from China.

Naomi Ishikawa has worked at Milbank in Singapore since 2001, advising on privatisations and other capital markets transactions, including a $2.7 billion bond offer from Petronas, as well as on mergers and acquisitions, and private equity deals.

The firm's expansion is just another sign of Asian resilience in the face of turmoil in US and European markets û there is still plenty of liquidity in the region and, as a result, plenty of deals waiting for the right window to launch into.

"Deals will be in the execution stage longer until the market starts to cooperate," says Zimmerman. But, in the meantime, it is not as though everyone is downing tools and hitting the golf course.

Milbank now has about 40 lawyers in the region, with roughly half of that number focusing on capital markets.
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