Job Wrap: BofA bulks up in rates, Morgan Stanley loses UK IB head

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Bank of America (BofA) continued to bulk up in Europe last week. The US bank which last year announced plans to invest $600 million in growing its investment banking operations hired four people to its London-based rates group, and two for foreign exchange.

The bank hired Alastair Hollingdale, who joins from Morgan Stanley, as managing director and head of EMEA flow rates trading; Anthony Ries, who joins from National Australia Bank as principal and head of sterling swaps trading; Simon White, who joins from JP Morgan as an analyst trading euro swaps; and Liora Chiche, who joins from Citigroup to market derivatives to corporate clients.

In foreign exchange, Jonathan Harding joined from CSFB and Tim Cox-Harding joins from AIG Financial Products.

While BofA was hiring, Morgan Stanley lost two valuable staff in the UK. Peter Stott, former head of UK investment banking, left for Greenhill, an independent M&A advisory boutique. William Vereker, a managing director in the energy and utility group at Morgan Stanley, left for Lehman Brothers, where he joins as co-global head of power and head of natural resources for Europe.

FX and derivatives: Merrill Lynch and CSFB hire

Bank of America wasn't the only one adding to structured products and FX teams.

Merrill Lynch hired two from JP Morgan for its foreign exchange (FX) team. Richard Longmore joined as head of FX sales in Europe, Middle East and Africa (EMEA). Sandra Brown joined as head of EMEA foreign exchange structuring.

Credit Suisse First Boston (CSFB) hired two people from Deutsche Bank for its strategic equity derivatives marketing team. Thibaut De Gaudemar joins as a managing director and head of strategic equity derivatives marketing. Jerome Heilmann joins as a managing director in strategic equity derivatives marketing, reporting to De Gaudemar.

Corporate finance, equities, and research: more analyst departures

It emerged that three senior analysts in telecommunications, technology and retail research have left Citigroup. They are Robert Mocatta, co-head of telecoms research; Lionel Rayon, a technology analyst; and Charles Nichols, co-head of retail research.

Deutsche Bank promoted Lucas Herman from head of pharmaceuticals research to head of European pan-oil and gas research. He replaces JJ Traynor and Caroline Cook, who were axed when the bank closed its Edinburgh office in January.

Natalie Blyth, former MD and head of consumer and household products corporate finance at Dresdner Kleinwort Wasserstein (DrKW), is joining Deutsche Bank in the same role. Blyth left DrKW on March 2.

Lexicon Partners, an independent corporate finance boutique, hired Robert Hingley, former co-head of the global financial institutions group and co-head of German investment banking at Citigroup, as vice chairman. Hingley left Citigroup in July 2003 to read early modern history at King's College, London.

HSBC hired Paddy Burrowes, deputy head of pan-European equity sales trading at Deutsche Bank, as global head of equity syndicate. Burrowes resigned from Deutsche last week.

Charles Henry Gaultier, an equity capital markets banker at CSFB, resigned, apparently to join a competitor.

France, Germany, Italy: SG promotes, BNP Paribas hires

SG Corporate & Investment Banking (SG CIB) promoted Bruno Teman as managing director in its strategic and acquisition finance team. Teman will be responsible for providing European corporates with capital structure advisory services and debt solutions. He was previously managing director in charge of origination for French corporates in SG CIB's equity capital markets division.

Muriel Blanchier, head of convertible bond research at SG Corporate and Investment Banking, left for BNP Paribas, where she will work in derivatives research.

Doughty Hanson hired appointed Lahlou Khelifi from Goldman Sachs to develop its real estate activities in France.

West LB hired Fergus Hoke to co-head its global sales and financial institutions business. Hoke left rival German bank HVB late last year as part of a reshuffle.

Cinven, a UK buy out firm, hired Roberto Italia as partner and country head for Italy, where it is planning to open an office.

Fund Management moves

Russell/Mellon, the performance measurement firm, said it is making 14 people redundant following a review of the business. Losses will hit staff in operations, IT and business development in Leeds and London.

Hedge fund Tudor Investment hired two commodities traders. Simon Holmes, a director in natural gas trading at Deutsche Bank, and David Beaton, a coal trader at Morgan Stanley, both joined Tudor in London.

Ope Agbaje, a credit analyst for European structured finance at Fitch Ratings, moved to Credit Suisse Asset Management. Agbaje joined as a credit analyst in fixed income, covering European structured products including asset backed securities.

Schroders appointed Michael MacDonald-Smith head of its UK defined contribution business. MacDonald-Smith joins from Barclays Global Investors, where he was head of defined contribution.

Barclays Capital hired John Exley from Mercer Investment Consulting as a director in its London insurance and pension solutions team. Exley spent 19 years at Mercer and was most recently a European partner in the firm.

Framlington, a British based fund manager, said its Chief Executive Peter Chambers had resigned with immediate effect and is seeking a replacement.

Fortis Investments, the fund management arm of the Benelux insurance group, hired Alain Deschenes as chief information officer. Deschenes joins from the Boston Consulting Group, where he was a vice president and director in Paris and London. Fortis also hired Jean-Pierre Cardinael, IT managing director at Générale de Banque before it was taken over by Fortis, as chief technology officer.

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