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Job Wrap: Board Changes at Morgan Stanley and Bank of America

There were high level changes at both Bank of America and Morgan Stanley last week. Director Michael Miles resigned from the board of Morgan Stanley, becoming the latest ally of former chief executive Philip Purcell to quit the bank since the arrival of John Mack. Miles was reported as saying every organization needs change and refreshment and his time had come to step down.

Bank of America named Al de Molina, chief executive of Banc of America Securities, its investment banking subsidiary, as chief financial officer with immediate effect. De Molina replaces Marc Oken, who is retiring.

Additionally, Banc of America Securities appointed Ann Short from the National Association of Securities Dealers (NASD) as chief operating officer for global investment banking. At NASD, Short was executive vice president of compliance and information services.

Investment Banking: Carter Quits CSFB

Christopher Carter quit as chairman of global investment banking at Credit Suisse First Boston after 19 years with the bank. No reason was given for his departure.

Wachovia Securities hired Eric Schless from The Seabury Group, a transport and logistics-focused bank, as a managing director in its industrial growth investment banking group.

Equities: BNP Paribas Poaches Five from Nomura

BNP Paribas raided Nomura Securities for five traders for its equity and derivatives QUEST (Quantitative Electronic Strategic Trading) business in New York. Timothy Egan and Alidad Mireskandari join as managing directors, Glenn Waldorf joins as a director and Keith Lillis and Robert McHugh join as vice presidents. The bank also hired David Nikodem from Blumberg Capital Management for the same team.

Jefferies & Company hired Eun K. Yang from Wells Fargo Securities as a managing director and senior equity research analyst covering biotechnology companies.

Hubert Keller, global co-head of equity capital markets at Deutsche Bank, said he was leaving after a decade to become a managing partner at Swiss private bank Lombard Odier Darier Hentsch.

Fixed Income: Karp Quits CSFB for Banc of America Securities

Banc of America Securities hired Andrew R. Karp from CSFB as managing director on its investment grade syndicate desk, based in New York City.

Asset Management: Boytinck Leaves Banking

Thomas Boytinck quit as global head of real estate at Deutsche Bank's wealth management unit and joined Capital & Marketing as an advisor on alternative investments.

New York-based asset manager Third Point hired James Kelly, a veteran hedge fund executive, as president and chief operating officer.

BlackRock hired Steven E. Buller, a partner and co-director of the global asset management services practice at Ernst & Young, as chief financial officer.

Alternative investment firm GSC Partners hired Goldman Sachs partner Joseph H. Wender as a managing director in its new Los Angeles office.

Credit Suisse Asset Management announced two US hires. Martha Metcalf joined from Invesco as head of U.S. high yield. Michael Baldinger joined from Bear Stearns as head of U.S. sales.

Commercial Banking: Wachovia Hires Reynolds

Wachovia Corporation hired Christopher Reynolds from Merrill Lynch to establish a new strategic focus on the commercial beverage and bottling industry. Reynolds was vice president in the beverage finance group at Merrill.

Calyon Americas, the New York-based corporate and investment banking arm of the Crédit Agricole Group, hired André Gazal from Barclays Capital as managing director and head of export finance for North America.

Information Technology: Lamb Joins Equilend as CEO

Equilend, the technology company with a global platform for automating securities lending transactions, hired Brian Lamb from Barclays Global Investors as its new chief executive officer.

ESpeed, the U.S. trading platform, hired John Capuano from SNS Enteprises as global head of foreign exchange sales.

AUTHORAnonymous Insider Comment

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