US jobs roundup: Banks bet on mortgage-backed securities

HSBC said last week it is setting up a mortgage-backed bond business in the US and it hired Neal Leonard and Todd White, both formerly of Lehman Brothers, to head the new team as co-heads of mortgage-backed securities.

The bank said the team will expand over the next two years to up to 30-40 people, including 15-20 traders and additional back office support.

Barclays Capital joined the rush, adding five senior mortgage-backed securities traders in New York. All five were previously in similar positions at Citigroup. Barclays also hired Thierry Lucas as the director of US equity options trading, one of 15 staff hired globally to expand Barclays' equity derivatives business.

Deutsche Bank recruited Carlos Rodriguez, formerly of BNP Paribas, as director and head of municipal derivatives. Jim Volkwein, formerly of Barclays Capital, was hired as the new global head of private placements, while Jennifer Chao, formerly of RBC Capital Markets, was hired as the new director of equity research in US biotechnology.

Deutsche Asset Management appointed Russell Read, formerly of Oppenheimer Funds, as the new deputy chief investment officer for the Americas, reporting to existing chief investment officer Leo Grohowski.

Oppenheimer Funds named David Poiesz senior vice president and portfolio manager for Oppenheimer Growth Fund, as well as head of equity growth investments. Poiesz was previously a managing director and senior portfolio manager at Merrill Lynch.

Blackstone hired Bruce Amlicke from UBS to become the first chief investment officer of Blackstone Alternative Asset Management, its $9bn hedge fund arm. Amlicke was previously chief investment officer of UBS O'Connor.

Paul Stevens has been named president of the Investment Company Institute, the trade association for the US mutual fund industry. Stevens succeeds outgoing president Matthew Fink who will remain as a consultant through September.

Randolph Kurtz joined CSFB as co-head of US diversified investments, after 15 years at Citigroup/Salomon Smith Barney.

Société Générale hired New York-based Mark Brown, formerly of Lehman Brothers, among six new sales people in its equity derivatives group.

Richard Peteka, former chief financial officer and treasurer of mutual funds at Citigroup Asset Management, joined Apollo Investment Corporation as chief financial officer.