European Jobs' Roundup: ex-DeAM staff find new homes
Recruitment typically tapers off in the third quarter, with prospective employers unwilling to buy out bonuses. But there was little sign of this last week. There were plenty of announcements from the fund management sector, with much of the action surrounding former employees of Deutsche Asset Management.
Gunner Burkhart, ex-head of trading at Deutsche Asset Management (DeAM), joined Lehman Brothers as managing director and capital markets senior client relationship manager for Europe. Burkhart left DeAM in February after a reorganization.
David Copley, head of investment operations and transfer agency at DeAM, joined Mellon European Fund Service as executive director of investment management solutions.
Peter Ellis, another former DeAM employee, joined Investit, the investment management consultancy, to oversee the expansion of its project arm. Ellis left DeAM last month. He was managing director of performance and client services.
Also in fund management, Gartmore Investment Management hired Peter Allwright, a top bond fund manager from Royal London Asset Management. Allwright joins as a senior investment manager on the fixed income team.
Threadneedle Investments appointed Graham Kitchen, the top equities manager at Invesco Perpetual, head of its UK equities division.
There was bad news for staff in the merged Isis Asset Management and F&C Management. Following the announcement of a 33 million cost cutting plan, there was speculation that as many as 200 jobs could be lost at the combined entity.
Investment banks were not without their own hiring coups. UBS hired Piero Novelli, head of M&A at Merrill Lynch, to head its own European M&A business. Novelli is expected to start at UBS in London next month.
ING hired two senior equities staff to run its sales and trading team. Glenn Coltart joined from Commerzbank as head of UK sales. Simon Jeffries joined from BNP Paribas as UK head of sales trading.
Natexis Banques Populaire in France hired Geoffrey de Beauregard from SG to run its equity and arbitrage division.
Barclays Capital hired Tim Elliott as a managing director responsible for the diversified industries sector. Elliott joins from JP Morgan, where he was managing director in charge of UK clients and a former head of European loan syndications.
Meanwhile, recruitment sources at Barclays Capital said the bank had applied the brakes to a hiring spree, which saw it add 1,300 new staff during the first seven months of the year. Sources said the bank has applied a 'tentative hiring freeze.' This was denied by a spokesperson, who said the bank continues to grow globally.
