Two London-based global law firms announced partner hires Wednesday that bolstered their services in funds formation and financial regulation, each citing a need to increase its capabilities to keep up with the evolution of asset management and financial regulation in the U.S.

Linklaters hired Washington, D.C., partner Donald Waack, formerly a partner at Morgan Lewis & Bockius, to join its U.S. Financial Regulation Group. In an interview, Waack said he joined Linklaters for the quality of its global financial regulation practice, which will benefit Waack’s global banking clients in London, Luxembourg, Tokyo, China, and elsewhere.