Job Wrap: Mack Loses Wien
In a surprise move last week, it emerged that hedge fund Pequot Capital hired Byron R. Wien, chief investment strategist at Morgan Stanley. Wien, who was renowned for his annual list of New Year's economic predictions and was a significant supporter of CEO John Mack in the months before his return to the bank, will join Pequot on December 1st. Mack himself was chairman of Pequot before resigning to return to Morgan Stanley in July.
In other asset management moves, Fortis Investments appointed Saker Nusseibeh from Societe Generale Asset Management as chief investment officer in its Boston-based global equity investment centre.
State Street Global Advisors hired David Sandrew from Barclays Bank as director of exchange traded fund (ETF) sales.
Mellon Financial said Marty McGuinn, its chairman and chief executive, will retire in two years. Heidrick & Struggles has been appointed to find a successor.
Richard Schmidt resigned as lead portfolio manager for JPMorgan Asset Management's global emerging markets strategies division.
Investment Banking: Evercore Builds in Restructuring
M&A boutique Evercore Partners, hired two well known bankruptcy bankers for its new corporate restructuring practice. Bill Repko joins from JP Morgan Chase and David Ying joins from turnaround and restructuring boutique Miller Buckfire Ying. Both will be co-heads of Evercore's restructuring practice ahead of new bankruptcy laws due to come into effect at the end of this month.
Deutsche Bank Securities hired Mark Hagan from Merrill Lynch as a director in its real estate investment banking team, based in New York.
Bear Stearns & Co hired David Braunschvig from Lazard as a senior managing director in its investment banking group, focused on technology, media and telecoms.
Equities: BNP Paribas Hires Steinberg
BNP Paribas hired Todd Steinberg from Wachovia Securities to help run the equities and derivatives business for North and South America.
Private Equity: Moran Replaces Gallogly
The Blackstone Group appointed Garrett Moran, president of MMC Capital, to assume the administrative duties previously conducted by Mark Gallogly, its former head of private equity. Moran will not be involved in deals.