A handful of senior moves hit banks in Europe last week. Citigroup hired Marianne Hay, head of Morgan Stanley's wealth management division, as chief executive of its European wealth management group.
Hay, who is the eleventh senior executive to resign from Morgan Stanley in just over two months, will take up her new position later this summer. She is replaced at Morgan Stanley by Mike Durbin, global head of strategy and risk in the individual investor group.
Separately, Erich Pohl, head of Dresdner Kleinwort Wasserstein in Germany, stepped down for personal reasons. DrKW is in the process of revamping its capital markets business under Steve Bellotti who joined last September.
Also in Germany, Lehman Brothers said Peter Coym will be retiring from the management board of its German unit, Lehman Brothers Bankhaus AG.
Fixed income: Bank of America poaches team of five from JP Morgan
Bank of America continued to build its European fixed income capabilities, with a team of five from JP Morgan for its European Commercial Paper (ECP) team:Tony Dullaghan joins as principal and European head of trading; Peter Eisenhardt joins as principal and European head of origination; Laurent Leveque comes on board as principal and European head of short term sales; Rosie Lloyd joins as an associate and Yann Marhic as a vice president.
Citigroup hired Cyril Martinez from Credit Suisse First Boston as head of its European high yield and leveraged products sales team.
Dresdner Kleinwort Wasserstein appointed Malcolm Perry as head of its newly combined fixed income businesses just a month after he joined from JP Morgan as head of credit.
SG Corporate and Investment Banking hired Michael Wilson from Lehman Brothers as head of UK and Ireland institutional investor coverage for structured products.
JP Morgan hired Raphael Drescher from UBS as a vice president in its global currency and commodities group.
Commerzbank hired Eckhard Arndt from Standard Bank as global head of credit markets.
Equities: ABN AMRO hires instead of fires
ABN AMRO, which has been making cuts in equities team recently, hired four instead. Raahil Bengali joins from Goldman Sachs as head of equity risk and cross-product trading. Wim Gille and Peter Koster join the Benelux research team in Amsterdam from Kempen & Co and FSB Securities, respectively. Marvel Keschischian joins the bank's German sales desk in London from Metzler, the German broker.
Citigroup hired Clay Smith from Commerzbank Securities as a specialist salesman in global oils.
RBC Capital Markets hired Patrick Nelson from Piper Jaffray as managing director of its equity sales team in London.
Investment banking: continued activity in corporate broking
Citigroup hired two more brokers from Hoare Govett, bringing to seven the total number of staff it poached from the British broker in the last two weeks. The latest to join were Charles Lytle and Alex Carter, both as directors.
Fox, Pitt-Kelton became the latest bank to show an interest in corporate broking when it hired Philip Ellick, a managing director at UBS, to start a corporate broking operation.
BNP Paribas hired Paul Staples, head of European media investment banking at CIBC World Markets, as a managing director in European corporate finance.
UBS promoted Charles Henir-Le Bret as head of investment banking France. Le Bret was previously deputy head of French investment banking.
Deutsche Bank hired Philipp Meier-Scherling, a director in the European media corporate finance team at CSFB, as a director in its European telecom investment banking team.
Lehman hired Stuart Upcraft from CSFB to head its UK M&A business. Upcraft is expected to join in the autumn.
European Islamic Investment Bank hired John Weguelin from Bank of America as managing director. At Bank of America Weguelin was chief operating officer and chief administration officer for Europe, Middle East and Africa.
Asset Management: Percy stands down at SG; Insight and SWIP hire for equities
Keith Percy stood down as chief executive of SG Asset Management to become chairman of the group. John Richards and Alex Buffet replace him as chief executive.
Insight Investment hired Eric Moore from Gartmore Investment Management as a senior portfolio manager in its core UK equity team.
Scottish Widows Investment Partnership hired Iain Fulton from Aegon Asset Management as a global equity fund manager with responsibility for non-UK portfolios.
SG Global Securities Services for Investors hired Sebastien Danloy from BNP Paribas as global head of sales for its investor services team.
SVG Advisers hired Andrew Goodwin from Sovereign Asset Management as a fund manager.
Standard & Poor's hired Steven Goldin from Enterprise Capital Management to head its portfolio advisors business in Europe and the Middle East.
Deutsche Asset Management continued to leak staff. Christoph Bernard, European chief investment officer in Frankfurt, is leaving at the end of the month.
BNP Paribas Asset Management appointed Chantal Mazzacurati head of its alternative investment management and structured and indexed management teams. Mazzacurati, who has been with the group since 1973, was previously head of global equities within the corporate and investment banking division.
Private equity: Apax Partners loses a partner
BC Partners hired Nikos Stathopoulos from Apax Partners as a partner in London.