Niall Macnaughton, Paul Mewis and Nick Bennett, all former directors at BBM, have joined Wheat's London office. All three will continue in their previous roles - Macnaughton as a credit and debt markets specialist, Mewis as an IT and human resources expert and Bennett as a specialist in foreign exchange, sales and trading.
Wheat was set up in November by former BBM directors George Corbett and Joe Thomas, both specialists in global custody, operations and securities lending searches.
BBM has reacted to the defections by recruiting Michael Moran, executive director at Meridian Consulting, the outplacement and career management consultants, to head up its operations.
Both BBM and Meridian Consulting are part of Penna Holdings, the human capital management consultancy.
Moran will also set up Penna in the City, a human capital management consultancy, which will specialise in resourcing, maximising employee's performance and career management of employees.
Linda Jackson, currently Moran's number two, will take over day-to-day management at Meridian.