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Job Wrap: Heads Leave Harvard, Amex, and Prebon

High-level departures eclipsed hiring in the U.S. last week. However, BNP Paribas hired into its new mortgage bond sales and origination business.

New Year, New Job

Salvatore Sodano quit the American Stock Exchange where he was chairman and chief executive. Sodano took on the role in 1999, but last year the Securities and Exchange Commission indicated his possible inclusion in an investigation into the running of the exchange.

Jack Meyer quit Harvard University's $22.5 billion endowment fund to run his own firm and just ahead of the fund's announcing a 21% return on investment for the year. Meyer, former head of the fund, which is the largest in the U.S., took four colleagues with him: David Mittelman, Maurice Samuels, Edward DeNoble and Michael Pradko.

Mark Perkins, the newly appointed head of the combined Prebon Yamane and Tullett brokerages in the U.S., has left the firm according to sources close to the company. Perkins' apparent exit follows that of Keith Miles, former head of Prebon in the U.S., who was made redundant after Prebon was acquired by Collins Stewart Tullett in October. Sources close to the company said Lou Scotto, chief operating officer, has taken on Perkins' duties, and that Dan Flannery, a former executive vice president of Prebon, will move into the role in future.

BNP Paribas leaps into mortgage bond sales and origination

BNP Paribas, the French financial services group, started a mortgage bond sales and origination business in the U.S. It hired six salesmen, traders, and originators from Freddie Mac, the mortgage finance company currently recovering from a bond scandal. Kevin Heals joins as a managing director and head of mortgage sales. He will open an office in Virginia with George Livingston, Eric Salzman, Bill Ludmor, Bill Poulos, and Tim Coyne. All six join from Freddie Mac's former securities division, which was restructured last October.

Fund managers hiring

Gartmore Global Investments hired Andrew Kauth as a healthcare equities analyst. Kauth, who will be based in the San Diego office, joins from Itros Capital Management, LLC, a dedicated health-care hedge fund manager.

Mazama Capital Management, a Portland-based fund management firm, hired Brant DeMuth as senior research analyst. DeMuth joins from AIM Capital Management, where he was a senior portfolio manager.

Clinton Group, a New York fund manager, hired former Senator John Breaux of Louisiana as senior managing director overseeing the board of directors. Senator Breaux retired from the Senate in January of 2005, after serving 32 years in the Senate and House of Representatives. He will also serve as senior counsel to Patton Boggs LLP, the attorneys, and as a senior advisor to Riverstone Holdings LLC, a private equity fund manager.

AUTHORAnonymous Insider Comment

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