Job Wrap: Perella Quits Morgan Stanley
Shenanigans continued at Morgan Stanley last week. After telling everyone two weeks ago he was there to stay, Joe Perella, a senior investment banker at Morgan Stanley, made an apparently tearful departure. His deputy, Tarek Abdel-Meguid, also said he was on the way out.
Philip Purcell, Morgan Stanley's chief executive and chairman was quick to name replacements. Michael Uva, head of European investment banking, and Cordell Spencer, deputy head of worldwide investment banking, become co-heads of the investment banking division.
JP Morgan also engaged a big investment banking hire. It recruited of Anwar Zakkour, former co-head of mergers and acquisitions at Citigroup, as global head of media M&A.
Fixed Income: Deutsche Bank Makes a Big Splash in High Yield
Deutsche Bank Securities made four senior hires to its US high yield group. Mark Colm from Merrill Lynch and Steven Rosen from Morgan Stanley joined as managing directors in high yield sales. Robert Leone from Merrill Lynch and Brian Zucker from Goldman Sachs joined as managing directors in high yield trading.
Banc of America Securities hired Stephen W. Weiss from Bear Stearns as a managing director and senior media and cable analyst on its fixed income research team. Weiss will be based in New York and report to Larry Bland, managing director and head of high yield research at the bank.
Securitisation: Mortgaged-Backed Moves
There was a rush of recruitment in the mortgage-back market last week. Barclays Capital hired Glenn Boyd from UBS as head of mortgage strategy. Boyd will build a mortgage research team to support BarCap's residential mortgage backed securities business.
Deutsche Bank Securities hired Milton Chacon from Moody's Investor Service as a director in its commercial real estate group. Chacon will report to Emile Van den Bol, head of the bank's commercial mortgage-backed securities collateralized debt obligation and special situations group.
RBS Greenwich Capital hired David Cannon from UBS as managing director and head of the collateralized mortgage obligation (CMO) trading desk.
Deutsche Bank Securities hired Raj Sodhi from Bank of America as a director in asset finance. Sodhi will be responsible for arranging and structuring single-seller commercial paper programs.
RBS Bulks Up in Derivatives
RBS Greenwich Capital raided three staff from JP Morgan, one from Barclays Capital and one from CSFB for its risk function and derivatives sales teams. Michael Anthony, Jenny Goodman and Avi Kwalwasser joined from JP Morgan. Anthony joined as head of US corporate finance risk solutions, while Goodman and Kwalwasser joined to expand the bank's derivative product sales. RBS also hired Joe Mittlestadt from Barclays Capital and Stella Stoyanova from CSFB with derivatives sales responsibilities
Equities: ThinkEquity and Piper Jaffray Hire for Healthcare Sector
ThinkEquity Partners, San-Francisco-based investment bank, hired Ronald Ree from Needham & Company as managing director of institutional sales covering healthcare and biotechnology clients.
Also in San Francisco, Piper Jaffray & Co hired Sean Wieland from W.R. Hambrecht as a senior research analyst covering healthcare services.
Private Equity and Private Clients: Shah Hires Ryland, Bear Grows in Missouri
Shah Capital Partners, a California based private equity fund focused on buyouts and
recapitalizations of technology companies, hired Kyle Ryland as a senior partner. Ryland was managing director and head of global technology investment banking at Lehman Brothers.
Bear Stearns raided Merrill Lynch to boost its private client services division in the Midwest. George W. Hinkle, William O. Newbold, Brian R. Bell, George Phillips III, and David L. Bowman quit Merrill for Bear Stearn's office in St. Louis Missouri.
Technology: HSBC Hires New Head of Execution Trading
HSBC Securities hired James Leman, an electronic trading specialist from SunGard as head of execution trading for the Americas.
SEC: Cutler Resigns
Stephen Cutler, head of the Securities and Exchange Commission's enforcement division, said he will leave the agency in mid-May.