Job Wrap: Team Moves at HSBC, Jefferies; French Banks Hiring
HSBC and Jefferies & Co. lifted whole teams of bankers from rivals last week. French banks BNP Paribas and Calyon showed their hiring mettle.
Mass migration: HSBC raids CSFB; Jefferies raids Robertson Stephens; CSFB's Dean quits
HSBC Securities poached six staff from CSFB for its rates business. Patrick Haskell joins from CSFB as head of the rates business for North America, with responsibility for sales and trading of U.S. government and agency securities, interest rate swaps and financial futures businesses as well as joint responsibility for the repo business. Greg Bartoli joins HSBC as senior vice president and senior government trader. Cliff Mulry joins as senior vice president and treasury inflation-protected securities (TIPS) trader. Michael Furman joins as managing director and co-head of rates sales. Tim Hanson and Joseph McNamara come on board as senior vice presidents and senior rates salesmen reporting to Furman and Collins.
Jefferies & Co. hired a team of four investment bankers from Robertson Stephens to its media and communications team. Mark A. Leavitt joins as a managing director heading the media and communications group. Peter A. Lombard joins as a managing director heading media and communications M&A activity. Gregory L. Dawkins and Robert E. Cockburn join as senior vice presidents.
It emerged that Thompson Dean, head of Credit Suisse First Boston's leveraged-buyout unit, plans to leave and take 15 colleagues with him to start a new fund. In December, CSFB chief executive Brady Dougan revealed plans to scale back the business.
French banks prowl the Street
Calyon, the corporate and investment banking arm of the Crédit Agricole Group, announced two hires. Wayne Jarons joined from FreddieMac as a managing director and head of compliance for Calyon in the Americas. Patrick Keleher joined from CRT Capital Group in Stamford CT as a director in the sales and trading team of Calyon's loan syndications group.
BNP Paribas boosted its bond trading, foreign exchange (FX) sales, institutional sales, and commodity derivatives teams. The French bank hired Derry Hubbard from ABN Amro as a product manager for covered bonds, and said it plans further hires in the covered bond market later this year. It appointed Achilles Risvas from Merrill Lynch to its global foreign exchange sales team. Angela Billick joins from J. & W. Seligman & Co. as sales and relationship manager with the institutional investors team in New York. Finally, Evan Zuckert joined from XL Capital as a director in the commodity derivatives team. .
Asset management and hedge funds: Brown quits SSgA
Alan Brown, chief investment officer at State Street Global Advisors, resigned and went on gardening leave. It was not clear what his next move will be or who will be replacing him.
Old Mutual Asset Managers hired Chris Higham from Morley Asset Management as an assistant fund manager in its fixed interest team.
Private investment fund EagleRock Capital Management hired John W. Petrozzi, Jr. as managing director. Petrozzi joins from Goldman Sachs where he was a senior member of the credit trading team. At EagleRock he will be responsible for trading distressed debt and high yield securities.
GSC Partners, a New Jersey-based private investment firm specializing in control distressed debt investments, European mezzanine lending and corporate structured finance, hired appointed Frederick H. Horton from Trust Company of the West (TCW). Horton joins as a partner and managing director specializing in structured credit, mortgage-related securities and ABS.
Sal Naro, global co-head of fixed income for UBS, resigned to launch his own hedge fund, Sailfish Capital.
Financial Risk Management, a global hedge fund of funds, hired Carrie McCabe, a former president and chief executive of Blackstone Asset Management, as CEO of its U.S. company, FRM Research LLC.
FX and derivatives: JP Morgan builds in currencies, Deutsche hires for MBS
JP Morgan hired James Cooper from Bank of America to its global currency and commodities group. Based in New York, Cooper will join the global currency options team responsible for the Canadian dollar and Australian/New Zealand dollar portfolio.
Deutsche Bank hired Christopher Babu from Bank of America for its mortgage backed securities group. Babu joins as a director in mortgage derivatives trading.
Compliance and investment banking
Barclays Capital hired Claudia Tarantino from Goldman Sachs as a director in compliance. Tarantino was head of structured credit and equity derivatives compliance at Goldman in New York.
Fox-Pitt, Kelton, the financial services specialist investment bank, also made an investment banking hire. It recruited M. Grant Tolson from Citigroup. Tolson joins as senior vice president in the investment banking division.