Lehman Joins FIG Hiring Rush

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Lehman Brothers has become the third investment bank in two days to hire a senior banker to work on deals involving financial institutions, as firms look to build teams to target what was last year's busiest overall sector for banks by revenue.

Gilles Graham, a member of Morgan Stanley's financial institutions investment banking team, has left the bank and will join Lehman in the second quarter this year.

Financial institutions brought in total revenues of $24 billion for investment banks last year, a market share of 31 percent for all industry sectors, according to data provider Dealogic. Industrials were second with a market share of 13 percent and a total revenue of $10 billion.

At Lehman Brothers, Graham will report to Maarten van Berckel, co-head of the bank's European financial institutions group.

Graham, who spent 11 years at Morgan Stanley, last year advised Crédit Agricole on its acquisition of a network of retail banks from Banca Intesa as well as working on French bank Natixis's $7.4 billion Paris listing in December.

His move follows hires by rivals Credit Suisse and JP Morgan in the U.S. to their financial instutions group in the last two days.

Scott Albinson, a former official from the U.S. Treasury Office of Thrift Supervision, joined JPMorgan as a managing director, while Credit Suisse recruited Steven Pierson and Joseph Hershberger from boutique Putnam Lovell NBF Securities.

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