European jobs roundup: UBS makes fixed income hires

Strategic hires and recruitment for structured products were prominent in last week's hiring market.

UBS Global Asset Management hired Joerg Sihler, head of fixed income at Deutsche Asset Management in Germany, to lead expansion of its fixed income division. Sihler will take up the new position on July 1st. Four of his colleagues from Deutsche Asset Management's fixed income team are also understood to be moving to UBS.

Dresdner Kleinwort Wasserstein (DrKW) hired Federico Buccellati from Citigroup to drive expansion of its Italian corporate finance and origination business. Buccellati will head the new business and is joined by Fabio Pigorini, also from Citigroup, who will work as a director on the same team.

Barclays Capital poached five people from Credit Suisse First Boston for its Nordic derivatives team. Jonas Cedergren, Mikael Berglund, Michael Errington, Mikael Petersen and Viktor Söderlund will form a new debt and equity derivatives team for the region.

There were internal moves in investment banking. Lazard promoted William Rucker as chief executive of the bank in London replacing Chuck Ward, who was appointed to the role last year, after Ward decided to remain in the US. Rucker is currently head of UK investment banking. That role will be taken by Peter Kiernan, a managing director at Lazard who moved from Goldman Sachs earlier this year.

Citigroup set up a new brokerage house in Moscow covering research sales and trading, to be headed by Stuart Harley, former head of emerging market equity sales at the firm's London office,

Merrill Lynch continued to mend holes in its London corporate broking team, which was raided by Morgan Stanley in April, by hiring Patrick Bowes from JPMorgan's equity capital markets team. Bowes joins Merrill Lynch as a director.

Deutsche Bank hired Gary Jenkins and Jim Reid, two former credit market analysts at Barclays Capital. Jenkins left Barclays Capital after 18 years in April; Reid, his partner at the bank, left in June after eight years there. At Deutsche, Jenkins will be responsible for fundamental credit strategy in Europe; Reid will be a European credit strategist. Both will be based in London.

Bear Stearns said it plans to recruit between 200 and 300 people in Europe in the next two years, a 30% increase on the bank's current numbers in the region. The new staff are expected to focus on structured finance, included asset backed bonds and credit and interest rate derivatives, which the bank is targeting as an important growth area.