Jon Sandelman, global head of debt and equities at Banc of America Securities, and the architect of the bank's equity derivatives business since 1998, quit to start his own hedge fund.
Banc of America will now merge its debt and equity business, rename it Global Markets, and put Mark Werner, former global head of futures and options at rival JP Morgan, in charge.
Bernd Loewen has been appointed as Commerzbank Securities' managing director and head of the Americas. Located in New York, Loewen was formerly managing director of the New York back office operations. He replaces Omar Bayoumi, former head of the Americas.
BNP Paribas continued to hire last week, adding Edith Aviles de Kostes as a managing director in its leveraged finance group. She joins the firm from D.F. Hadley & Co., an investment bank in Los Angeles. The French bank also announced an expansion of its Chicago institutional fixed income sales team with the appointments of Liz Kullman to its high yield sales desk, Gene Zmuda to its short term sales desk, Paul Lucchesi to its high grade sales desk and Monty Gandhi to its interest rate sales team.
Kullman and Zmuda both join from Bank One Capital Markets. Lucchesi joins from BNP Paribas' London office where he was a senior trader responsible for trading U.S. credits in the European time zone.
Deutsche Bank Securities promoted three senior managers in an attempt to reinvigorate the business. Jeff Amling, former head of media investment banking becomes vice chairman of investment banking for the Americas. Amling has been with Deutsche Bank for over 20 years.
Chris Johnson becomes head of the media group at Deutsche. He was previously managing director and senior leveraged finance originator at the bank. Lee Stettner, formerly co-head of equity capital markets in the U.S., becomes head of the healthcare group. Stettner joined the bank in 2003 after five years at Credit Suisse First Boston.
This was also the week that Goldman Sachs announced its latest round of partners and managing directors, naming 99 new partners and 190 new managing directors worldwide. The promotions boost the total number of partners to 337 and managing directors to 1,194. A full list of appointees can be found at https://www.gs.com.
Wachovia Corporation announced the three SouthTrust directors who will serve on Wachovia's board following the completion of the merger between Wachovia and SouthTrust on November 1. They are Wallace Malone, SouthTrust's chairman and CEO, Donald M. James, and Van L. Richey.
The Bank of New York's private client services organization appointed Paul R. Gordon as managing director and head of its wealth advisory group and Joseph M. Samulski as managing director and head of its New York City trust and estate services division. Gordon joins the bank from U.S. Trust while Samulski was previously with law firm Cullen & Dykman, Bleakly Platt.
Standard Life Investments expansion into the U.S. private equity market continued with the announcement that Robert Hatch has been appointed vice president (private equity), North America. He will be based in Boston. Hatch previously worked at Argo Global Capital, a venture capital firm in Lynnfield, Massachusetts.
Burlington Vermont-based Dwight Asset Management announced that Jeff Norris has been named chief operating officer. The firm is a registered investment adviser specializing in fixed income and stable value strategies, and is a wholly-owned, independently-operated subsidiary of Old Mutual plc. Norris joined Dwight in 2001 as senior vice president with responsibilities in client service and product development. Previously, he spent 21 years with Metropolitan Life Insurance Company.