Jobs roundup: Senior credit staff ring the changes

Several senior credit staff have been on the move in the past week, including structuring and sales specialists.

Deutsche Bank lost Paul Czekalowski, European head of credit structuring. Czekalowski is understood to be joining UBS, which could not immediately be reached for comment.

BNP Paribas strengthened its fixed income franchise in Germany with the addition of Ruediger Rohner as head of credit sales. Rohner came from Deka Investment, the fund management subsidiary of Deka Bank.

West LB bank hired Antony Brown from BNP Paribas as head of credit sales in London.

The moves come after several other senior credit hires during the past three months. HSBC and Citigroup have both recruited senior credit strategists, BNP has hired a new head of credit derivatives marketing and Commerzbank has hired a new head of European structured credit.

Meanwhile Pioneer Investments, the fund management arm of UniCredito Italiano, maintained continued the trend for fund managers to hire credit research specialists. Pioneer hired Gary Parker from Prudential M&G to be head of corporate bond research.

There were promising signs for recruitment in covered bonds, a form of long term debt secured on mortgages and public sector loans. ABN Amro created a new covered bond team in anticipation of growth in the market. The team will be jointly led by Niall Cameron, global head of credit markets, and Graham Bird, global head of rates.

Dresdner Kleinwort Wasserstein (DrKW) hired in corporate finance. It strengthened its financial sponsors coverage team, which advises private equity firms on corporate finance and origination work, with the recruitment of a third managing director since April.

DrKW also hired Chad Floe, former head of Lehman Brothers European healthcare group. Floe will run the corporate finance and advisory healthcare team.

DrKW has slipped down M&A league tables in 2003. In April it hired Stephen Berger as an executive chairman of its corporate finance and advisory division. Berger is understood to be seeking to boost DrKW's profile by hiring a number of senior staff.

Meanwhile redundancies are still underway in financal services. It has emerged that Barclays Global Investors (BGI), the asset management subsidiary of the UK bank, has made further staff cuts.

Up to 10 employees at BGI's London office have been made redundant, with the project management team worst hit.