Job Wrap: Mack Resurfaces at Hedge Fund

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Pequot Capital Management Inc, a hedge fund, said it hired John Mack, former chief executive of CSFB and Morgan Stanley, as chairman.

Mack's move ended months of speculation as to what he was planning to do next, and appeared to scupper all possibilities of a return to Morgan Stanley if dissident former executives succeed in oustring current chief executive Philip Purcell.

In another hedge fund hire, it emerged that Peter Mallinson, a former partner and equities specialist at Goldman Sachs, is joining CDK Group, a New York-based fund of hedge funds manager. Mallinson retired from Goldman in 2002.

Reshuffling at Merrill and Lehman

Merrill Lynch appointed James Gorman, its global private client president, as executive vice president and head of corporate acquisitions, strategy and research. Bob McCann, vice chairman in wealth management, takes over from Gorman. McCann is considered a potential successor to Stan O'Neal, Merrill's chairman and CEO.

Lehman Brothers made Bart McDade head of its equities business in a reshuffle of top management. McDade was formerly global head of fixed income. He replaces Robert Shafir, who is taking a leave of absence for family reasons. Michael Gelband, previously head of fixed income liquid markets, replaces McDade.

Donaldson quits SEC

William Donaldson, head of the Securities and Exchange Commission (SEC), resigned. He will be replaced by Christopher Cox, a Republican Congressman for California.

Equities and fixed income: Barclays hires quant head; Bear hires for research

Barclays Capital hired Jeff Meli from Deutsche Bank as head of US structured credit and quantitative strategy. Meli joins as a director.

Bear Stearns hired Robert Summers from Banc of America Securities as a managing director and equity research analyst covering supermarkets and drugstores.

Fulcrum Global Partners, an independent securities firm, hired Michael Maloney as managing director and head of US equity trading. Maloney was most recently at Bank of America, where he was a principal in the global equities division.

Knight Capital Group, an institutional broker dealer firm focused on equities, said Mony Rueven, its senior managing director, was leaving

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