Law firm Allen & Overy said Tuesday that it has hired equity capital markets and public M&A lawyers Kenny Kwan (L) and Caryn Ng as partners in Singapore from Baker McKenzie.

Kwan is a returning partner, having previously worked with the firm between 2009 and 2017, London-headquartered Allen & Overy said in a statement.

Southeast Asia has been emerging as a global initial public offering hotspot, with Singapore's political and economic stability attracting foreign issuers.

Squire Patton Boggs, Norton Rose Fulbright, Milbank, K&L Gates, Herbert Smith Freehills and Linklaters are among other international firms that have added partners in Singapore across multiple practices in recent weeks.

A Baker McKenzie spokesperson did not immediately respond to a request for comment on Kwan and Ng’s departure.