Jobs roundup: Departures at fund managers
Resignations and senior appointments were in evidence in the job market last week.
Aegon Asset Management, the fund management arm of Aegon, the Dutch insurer, lost Alistair Byrne, head of research, to academia. Byrne resigned to become a lecturer in the finance department at Strathclyde University.
Scottish Widows Investment Partnership (SWIP) lost Ian Cormack, a senior fund manager who decided to join the boutique Edinburgh Partners.
He joins SWIP's head of European equities, head of European equity research, and one of its star equity fund managers in defecting to Edinburgh, which was set up earlier this year by Sandy Nairn, a former SWIP chief investment officer (CIO).
Framlington, the UK fund manager, lost CIO Neil Birrell last week. His resignation came
six months after Peter Chambers joined the company as chief executive. Craig Walton, Framlington's marketing director, left in June
It was all change at the helm of French and UK retail banking. Both Barclays Bank and Crédit Lyonnais appointed new chairmen, putting an end to speculation about their leadership.
At Barclays, John Varley, finance director, took over as chief executive from Matt Barrett, who stepped in as chairman. Varley beat Bob Diamond, chief executive of Barclays Capital and chairman of Barclays Global Investors, to the top post.
At Crédit Lyonnais, Jean Laurent, chief executive of Crédit Agricole, took over as chairman, after former chairman Jean Peyrelevade resigned to defend himself in a court case related to the acquisition of Executive Life in 1991.
Crédit Agricole is in the process of taking over Crédit Lyonnais.
SG Corporate and Investment bank continued to staff up in equities by hiring six equity derivatives specialists, four of whom came from Deutsche Bank.
The hires follow the appointment of David Escoffier as head of equity derivatives at the end of September. Escoffier is understood to have a remit to expand SG's successful equity derivatives franchise in London.
At the end of last year, SG made deep cuts in its London M&A and equity capital markets divisions.
