Against a backdrop of redundancies throughout investment banking, Jared James is building a team to cover assignments in three of the hardest hit sectors: M&A, private equity and leveraged finance.
Jared James has hired Jonathan Head as a managing consultant to run the team. As part of the investment banking and asset management practice, he will also focus on senior buy-side assignments.
Head, who was previously a managing consultant at the recruitment firm Korn/Ferry Futurestep, will report to two capital markets veterans. Bradley Rood, the managing director of Jared James, is a former head of fixed income sales at Chemical Bank (long since absorbed by Chase Manhattan, now JP Morgan Chase) Mark Jackson, a director, was previously head of sterling products at NatWest (now Royal Bank of Scotland).
The move comes as many investment banks fire staff in response to the flow of M&A and leveraged deals drying up and private equity investments turning sour. This trend has kept some headhunters busy, since the market for the top tier bankers has become much tighter and smaller investment banks are picking up the bankers that they could not afford in a buoyant market.