Job Wrap: Shake-ups all round

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CSFB, Lehman, JP Morgan, UBS and HVB Group announced shake-ups or internal moves last week.

Credit Suisse First Boston (CSFB) announced a shake-up of its corporate broking unit, which has lost several mandates since the end of last year. James Leigh-Pembreton, son of the former governor of the Bank of England, will be installed as joint chairman alongside Charles Kirwan-Taylor. Leigh-Pemberton will also retain his current position as chairman of European investment banking. Peter Hyde, a managing director in the equities division, will become co-head of UK corporate broking with Nick Bowers. Hyde was previously head of CSFB's European transport research.

Lehman appointed Marcel Koebeli, head of structured product sales for Europe, as head of capital markets for Switzerland. He will be responsible for Lehman's equities and fixed income busineses in Zurich.

Abhijit Chakraborrti, chief global equity strategist at JP Morgan is moving from London to New York to take on the position of head of global equity strategy and build a new team. He will relocate on April 1st. Mislav Matejka, part of the global team in London, is being promoted to head of European equity strategy. Kim Martin will be the senior member of the team in London, and will report to Chakraborrti.

UBS appointed Emma Goodrick as its first head of UK mergers and acquisitions. Goodrick, a managing director at the bank, will report to Piero Novelli, who joined last year from Merrill Lynch as head of M&A.

HVB Group, Germany's second largest bank, reorganized its equity capital markets division. Christian Bacherl, former head of equity syndicate, and Manish Wadhwani, former head of equity linked origination are the new heads. Bacherl will be based in Munich; Wadhwani will be based in London.

Hiring: ING

ING swept up a senior research analyst and two sales staff from Commerzbank for its European equities business. Harold Hutchinson joined as head of Western European energy research, in charge of oil and gas and utilities research. William Casement and Jacob Potts joined as directors and senior equity sales staff, distributing ING's pan-European equity products to UK institutions and hedge funds.

Dresdner Kleinwort Wasserstein (DrKW) announced the appointment of Paul Buckley as managing director and deputy head of sales and marketing. Buckley joins from CSFB, where he was a bond trader.

Fund Management: F&C Strengthens its Board; Gartmore cuts

F&C Asset Management, the fund manager created in October from the merger of F&C and Isis Asset Management, announced the appointments of Brian Larcombe and Philip Moore to its board. Larcombe retired last March as chief executive of 3i Group Plc. Moore is finance director of Friends Provident Plc, the controlling shareholder of F&C.

Gartmore Investment Management made nearly 30 staff redundant after merging its retail business with a division distributing funds to European banks. The company also strengthened its London-based Pacific & Emerging markets equities team by moving Frank Ho and Jamie Lewin internally. Ho was previously a Tokyo-based Japanese technology analyst for Gartmore. Lewin worked in Gartmore's London-based strategic research unit.

Departures: Goldman, Baillie Gifford, Lombard Odier Darier Hentsch, Deutsche

Peter Weinberg, head of Goldman Sachs International, revealed plans to return to the US later this year. His departure will create a top level vacancy at Goldman in Europe.

Baillie Gifford, the Edinburgh-based fund manager, announced the retirement of Richard Burns, its chief investment officer. Burns will retire in April 2006, after 33 years with the firm. He will be replaced by James Anderson, deputy chief investment officer. Charles Plowden, head of UK equities will become joint senior partner with responsibility for investment personnel.

Christine Farquhar was forced out of Lombard Odier Darier Hentsch, where she was head of fixed income. Her departure came seven months after she settled a claim for sex discrimination with Insight Investments, her former employer. Farquhar joined Lombard Odier in 2003 and was given a substantial budget to recruit bond managers and analysts. However, Lombard reviewed its strategy and is now refocusing on private banking.

Anke Richter, the sole utility debt analyst at Deutsche, left. She could not be reached for comment, but a spokesman for the firm confirmed her departure. He was unable to say whether she would be replaced.

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