Job Wrap: Purcell parts with private bankers

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Departures at Morgan Stanley continued to make headlines last week. It emerged that seven London-based private bankers resigned from the bank during April.

Tarek Mooro, Fredrik Phlyr, Eran Ben-Zour, Andrea Brignone and Carlo Michienzi are expected to form into two groups and set up two independent wealth management companies.

The latest departures follow a series of senior level resignations and calls for Philip Purcell, chief executive of Morgan Stanley, to stand down.

Fund management: Stewart joins Odey

Odey Asset Management hired David Stewart, president of Fidelity International's European institutional business, as chief executive. Stewart will become one of nine partners at Odey.

WMG, the hedge fund run by Mehmet Dalman, former head of the investment banking arm of Commerzbank, hired Elizabeth Glyn as a portfolio manager responsible for US investments. Glyn joins from Merrill Lynch Investment Managers where she was a fund manager and member of the senior investment group for global equities investment.

Fund of hedge funds Caliburn Capital Partners appointed Mike Ketley from Wadhwani Asset Management as a managing partner with responsibility for the firm's financial operations and operational due diligence.

New Amsterdam Capital, a London-based investment firm, hired two investment analysts for its growing European high yield debt business. Imran Jaffer and Mehdi Ksikes both join from Lehman Brothers to work on European credit investments.

Equity Derivatives: JP Morgan leavers reappear at Lehman

Three JP Morgan derivatives specialists re-emerged at Lehman three months after leaving the US bank. Axel Kilian, Martin Bertschhead and Juergen Bossler all joined Lehman in London. Kilian joins as head of European equity derivatives sales. Bossler joins as head of equity derivatives sales for Germany and Austria. Bertsch is appointed head of equity derivatives product development.

BNP Paribas hired Muriel Blanchier from Société Générale as head of convertible bond research.

Fixed income: Lehman hires in Italy

Lehman Brothers hired Giuseppe Bivona, Morgan Stanley's head of the financial institutions group for Italy in global capital markets. Bivona joins Morgan Stanley as a managing director in the structured fixed income solutions group.

DrKW loses Wilkinson

Alex Wilkinson quit Dresdner Kleinwort Wasserstein after eight years. Wilkinson was head of listed products at the bank. His is the latest in a series of high profile departures that have included Achilles Macris, former co-head of capital markets, and Steve Berger, who resigned in March as head of corporate finance.

Commodities: Sucden hires

Sucden, a commodities and financial futures broker, hired Andy McCelland from Brady PLC, a software supplier, as a manager in its global industrial commodities team.

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