Job Wrap: Asset Managers do the Business
Asset managers and hedge funds topped US financial services hiring last week.
Tremont Capital Management, a hedge fund with some $10bn under management, hired John Matwey from RiskMetrics Group as a director of risk management and portfolio services. Matwey was a director in the alternative business division at RiskMetrics.
Northern Trust hired Christopher Guinther from Principal Financial Group as senior portfolio manager for its active growth equity management group. Guinther will be a senior portfolio manager responsible for small cap growth equity management, including the Northern Small Cap Growth Fund.
Velocity Asset Management, a Delaware-based distressed asset management and liquidation company, hired three independent directors. They were: Steven Marcus, founder and president of mid-market private equity firm Rainbow Capital, Michael Kelly, director of the Insall Scott Kelly Institute of Orthopaedics and Sports Medicine in New York, and David Granatell, executive director of Grant Industries, Inc., a specialty manufacturer of textile chemicals and personal care raw materials.
Russell Investment Group, a multi-manager with $148bn under management, hired Julia Cormier from Goldman Sachs in London as director, alternative investments, for its U.S. institutional investor services. Cornier will be based in Chicago, where she will be responsible for advancing Russell's objectives in alternative investments.
UBS hired George Travers from Deloitte & Touche as chief financial officer of the New York-based internal hedge fund business being set up under John Costas, the Swiss bank's former head of investment banking.
General Motors, the auto maker, promoted Nancy Everett to president and chief executive of General Motors Asset Management, effective January 1, 2006. Everett, who was previously chief investment officer, replaces Allen Reed, who will assume the new position of chairman at year-end.
M&A and commercial banking: Deutsche hires Manas from Goldman
Deutsche Bank hired Jean Manas from Goldman Sachs as vice chairman of M&A in the Americas. Manas, who will also be a member of the Americas M&A operating committee, will join the firm as a managing director based in New York. At Goldman he was most recently co-head of M&A for the technology, media and telecommunications group.
GE Commercial Finance Technology Lending hired Kjerstin Barley from Bear Stearns as senior vice president, origination. Barley will be based in San Francisco with responsibility for developing client relationships within the technology sector.
Fixed income: Bar Cap hires two from Goldman
Barclays Capital hired two Goldman Sachs managing directors to help launch a US high-yield and leveraged finance business, giving the bank a full range of fixed-income offerings in the US. Joseph McGrath and Frederick Van Zijl will join the New York office of Barclays Capital in January. Both are currently on gardening leave. At Goldman, McGrath was previously head of US high-yield capital markets and head of US high-yield sales. Van Zijl had also worked at Goldman since 1998, most recently as a managing director in leveraged finance.
Equities: JMP Securities hires from Friedman Billings Ramsey
JMP Securities, an investment bank focused on growth companies, hired Philip Gardner as a managing director in institutional equity sales. Gardner, who will be based in JMP's San Francisco headquarters, joins from Friedman Billings Ramsey, where he oversaw West Coast equity sales.
Jefferies hired Ross Stevens from Banc of America Securities as head of electronic trading services. Stevens will help expand and implement the firm's strategy in electronic trading across securities classes.
Brokerage: Schwab promotes Bettinger
Discount brokerage firm the Charles Schwab Corporation, said executive vice president Walter Bettinger II would succeed William Atwell as president of the individual investor unit, the company's largest division.
Private equity: Atlantic Pacific hires Packard
Atlantic-Pacific Capital, a global placement agency focused on alternative investments, hired Jonathan Packard as a vice president and Colin Smith as an associate. Packard joins from asset manager WR Capital Management. Smith was most recently an analyst at Banc of America Securities.