U.S. Jobs' Roundup: Mid-market firms lead the way
Smaller investment banks and regional operators made most of the running in the job market last week.
Jefferies & Company, a New York-based investment bank specialising in mid-sized firms, lured two equity research analysts from Schwab Soundview Capital Markets. Glen Santangelo will cover the healthcare distribution & technology sector. Howard A. Rubel will cover the aerospace and defense industries. Both will be managing directors.
Morgan Joseph & Co., also a specialist in middle market companies, announced that Michael Lingvall had joined its high yield department as a senior vice president, specialising in secondary private placements. Lingvall has held similar positions at RBC Dain Rauscher Inc., Libra Securities, Allison-Williams Company and The Bank of New York.
Harris Nesbitt, the U.S. investment and corporate banking arm of BMO Financial Group, announced the appointment of Richard (Dick) Hurd as managing director, U.S. equity sales. Located in the Boston office. Hurd joins Harris Nesbitt from Fulcrum Global Partners.
French bank BNP Paribas proved the exception to the mid-market norm and appointed Garry Popofsky as managing director and head of North American corporate FX sales. Popofsky joins from Royal Bank of Scotland where he was managing director in FX sales for over five years.
Meanwhile, departures continued at Marsh & McLennan, which is being investigated by the New York state attorney general for price rigging. Roger E. Egan, president and chief operating officer of Marsh Inc., the group's risk and insurance services subsidiary, and Christopher M. Treanor, Marsh Inc.'s chairman and chief executive officer of global placement, have been asked to step down from their positions but will help with transition issues. Peter F. Garvey, president and chief executive officer of Marsh's North American operations, and William A. Malloy, president and chief executive officer of Marsh's Europe and Middle East operations, have been promoted to co-presidents of Marsh; Philip V. Moyles, Jr., chairman of client development-North America, has been promoted to executive vice president.
Asset managers also had a relatively quiet week. Northern Trust Global Investments (NTGI) announced today that it had hired a new portfolio manager for its quantitative management group. Chad Rakvin will join the NTGI team in New York. Rakvin was previously with Barclays Global Investors.
Dover Management, an investment advisory firm based in Greenwich, Connecticut, appointed Christopher J. Wolfe as head of research. Prior to joining Dover, Wolfe was head of global equities for JP Morgan's Private Bank.
Boston-based Bain Capital Ventures, the venture capital arm of Bain Capital, made two new hires for its investment team. Benjamin Nye was previously a senior vice president at Veritas Software. Michael Fleisher recently served as chairman and CEO of Gartner Inc.