Fund management continued firing on all four hiring cylinders last week: there were multiple hires at Schroders and Barclays Global Investors, plus a multitude of new promotions and retirees elsewhere in the sector. Meanwhile, there was some positive news on hiring in equity research.
b>Fund management: Schroders hires six; Barclays hires four
Schroders hired six people for its emerging markets equities team last week. Waj Hashmi joins from WestLB Asset Management as a global emerging markets manager. Claudio Brocado joins as head of Latin America from Fidelity Investments. Braam Hanekom joins as emerging markets strategist from Credo Capital. Jasper Crone joins as an EMEA analyst from F&C Management Ltd. Rupert Rucker joins from WestLB as emerging market equities product manager. Liesbeth Rubinstein joins as head of Europe, Mid-East and Africa from JP Morgan Fleming Asset Management.
Barclays Global Investors (BGI) hired four senior staff to its fixed income team. Heather DeGarmo joined from Goldman Sachs Asset Management as portfolio manager for BGI's European long/short credit fund. John Maskell joined from Barclays Capital as head of interest rate strategies. Allan Lane joined from Royal Bank of Scotland as head of the fixed income investment technology and analytics team. Sebastien Guglietta joins from BAREP Asset Management as a senior portfolio manager.
Insight Investment, the asset manager of the Halifax and Bank of Scotland group, hired Stuart Eaton from Newton Investment Management as a UK equity fund manager.
John Ainsworth, chief executive of Old Mutual Asset Managers in the UK, is stepping down after four and a half years in the job. He will be replaced by deputy chief executive Peter Baxter. Ainsworth said he has no immediate career plans.
State Street Global Advisors promoted Paul Duncombe to take over its UK business following the departure of Nigel Wightman in March. Duncombe has been global head of currency management for the past nine years.
State Street also hired Valerie Nicholson from F&C Asset Management as director of marketing and consultant liaison. Nicholson will be based in the UK.
Peter Gibbs, chief investment officer for Europe at Merrill Lynch Investment Managers, has retired. He said he has no firm plans for what to do next. MLIM is expected to announce a replacement soon.
SG Asset Management hired David Benson from Deutsche Asset Management for its struggling UK equity management team. Benson joins as an analyst and UK equity product specialist.
HSBC Securities Services hired Amit Taylor from IBM as business development manager in its European sales team.
Equities: research hires at Citigroup and SocGen
Citigroup Smith Barney, which has been making research redundancies in London and New York, hired four equity research analysts to its newly formed Moscow equity research team. Dmitry Vinogradov joins from Brunswick UBS as a director and lead senior Russian country analyst with a focus on the consumer and financials sectors. Andrei Machanskis also joins from Brunswick UBS as lead analyst on the Russian oils sector. Mikhail Seleznev joins from CSFB as a director with a focus on basic materials. Alex Korneev joins from Aton as a vice president and lead analyst on the utilities sector.
Société Générale hired two for its equity research team. Shawn Manning joins from Dresdner Kleinwort Wasserstein as a senior pharmaceuticals analyst in London. Didier Laurens joins from Otto & Cie as a senior small-cap analyst in Paris.
Fox-Pitt, Kelton, hired a new head of equity sales and two others to its London-based advisory team. Calum McInnes joined as head of equity sales from Deutsche Bank; Graham Jinks joined to work in research sales from Credit Suisse First Boston. Adam Cohen joins as a European salesman after running his own business.
Merrill Lynch hired Marco Mautone from Lehman for its Zurich based sales trading team.
Marcus Hooper, former head of equities investing at Bear Stearns, joined Insight Investment to help develop trading systems.
Jean-Francois Tiné, head of equity syndicate at SG Corporate and Investment Banking, quit to become joint head of Lazard-Ixis. SG made Ghislain de Brondeau head of equity syndicate in his place. De Brondeau was promoted to head of equity-linked origination seven months ago.
Debt and structured products: TD Securities retrenches to Toronto
TD Securities, the Investment Banking Arm of Toronto Dominion, is cutting 75 staff as it closes derivatives units in London and Tokyo. The bank plans to centre all exotic equity products and structured credit trading units in Canada, where operations are cheaper.
Commerzbank hired Hannah Nicholson from Dresdner Kleinwort Wasserstein as head of secondary loan trading within its loan distribution team.
Investment banking: Lehman hires from McKinsey; Rudd retires
Lehman Brothers hired Mark Williams from McKinsey & Co. as a managing director and head of European strategy.
Nigel Rudd, chairman and chief executive of Bridgewell Group, the independent securities and investment banking company, is stepping down. Bob Benton, chief executive, is replacing him. Rennie McConnichie, who joined last year from Merrill Lynch, is replacing Benton.
Energy trading: Merrill hires
Merrill Lynch hired Erik Mielke from Dresdner Kleinwort Wasserstein and Alexander Gladyshev from Yukos to its energy team. Mielke will head the emerging Europe energy team with Gladyshev working alongside him.
Private equity: Barclays restructures
Barclays Private Equity split the management responsibility at the firm between three people following the death of Graham White. Tom Lamb, UK managing director, Gonzaque de Bliqnieres, managing director of France, and Hammerman, managing director of Germany, will take responsibility for the firm in future, a job that White did alone.
Actis, a private equity investor in emerging markets hired Sir Peter Bonfield, former chief executive of BT, to its advisory board.
Warburg Pincus hired Peter Wilson from Electra Partners as a managing director, based in London.
Compliance: Cole is new FSA enforcer
The Financial Services Authority (FSA) hired Margaret Cole, a partner in the London office of the international law firm White & Case, as its new director of enforcement.