Job Wrap: Private Equity Exits
There was a series of exits at private equity firms last week, as senior staff quit to go it alone.
Kohlberg Kravis Roberts (KKR) lost Ned Gilhuly and Scott Stuart, two senior executives who were widely viewed as candidates to succeed its funders. Gilhuly and Scott released a statement saying they planned to focus on "long-term, value-oriented equity investing."
Mark Gallogly, a senior managing director and head of the private equity group at Blackstone, quit the group to launch his own investment firm. Gallogly will team up with Jeffrey Aronson, head of distressed debt investing at investment firm Angelo Gordon.
Separately, Warburg Pincus, the US private equity firm, was hiring. Christopher Jun from Edelman Public Relations joined as vice president of marketing.
Banc of America hired Suhail Shaikh from CIBC World Markets as a managing director in the financial sponsors corporate and investment banking group.
Investment Banking: SG Cowen Hires Navarro
SG Cowen & Co., a subsidiary of SG Corporate & Investment Banking, hired Sam Navarro from the Galleon Group as a managing director in health care investment banking.
Markets: Deutsche Promotes; Nollenberger Hires Five
Deutsche Bank Securities said it promoted Derek Capanna, regional head of institutional equity sales to the US Central and West Coast regions, as head of Americas cash equity sales within its global markets division.
San Francisco-based Nollenberger Capital Partners hired five to its equity capital markets and equity research group; four came from Wells Fargo Securities. The Wells Fargo hires included: Todd Clark as head of institutional equity trading; Casey Ryan as a senior research analyst covering wireless communications; and Mike Hooker and Joseph Pattison as institutional salespeople. Angelique Dab joined from Monarch Research as a senior research analyst covering specialty apparel and footwear.
Chicago Equity Partners hired Tina Krauskopf from Loomis, Sayles & Company as a fixed income trader.
Asset Management: Merin Retiring from Morgan Stanley
Morgan Stanley Investment Management said Mitchell M. Merin was retiring as president and chief operating officer. Owen D. Thomas will serve as acting president while a replacement is sought.
Northern Trust hired Larry Jones from NCM Capital as practice leader for its emerging/minority manager business. Bob Graziano joined from the Los Angeles Dodgets baseball team as managing director, western region.
ABS Investment Management, a hedge fund group, hired Tae Kim from P.A.W. Partners, a technology hedge fund.
Atlantic-Pacific Capital, an independent global placement agent for alternative investment funds, hired three investment professionals. John Chase joins from Lazard Asset Management as a vice president focused on sales distribution. S. Kelsie Clark joins from Probitas Partners as an associate; Kavita Bagga joins from Merrill Lynch as an associate.
Legal: BNP Paribas Hires from DeAM
BNP Paribas hired Betty Whelchel from Deutsche Asset Management as general counsel for North America.
Board Change at Lehman
Lehman Brothers hired Roland Hernandez, the retired chairman and chief executive of Telemundo Group, a Spanish language television station, to its board of directors.
Technology: Ex-JP Morgan Managing Director Joins First Data
First Data, the credit card processing group, hired David Dibble, a former managing director at JP Morgan Chase, as its chief technology officer.
Corporate Banking: Morgan Keegan Hires Managing Director, Fixed Income Banking
Morgan Keegan & Company, the investment banking and securities brokerage division of Regions Financial Corporation, hired Ronald M. Pyle, a former executive vice president municipal trading and underwriting at Stephens Inc, as a managing director of its fixed income banking division.