There were a lot of departures in the world of European finance last week, some more deliberate than others.
It emerged that Fox-Pitt, Kelton, the financial services specialist investment bank, had seen the back of four senior corporate financiers. John Wells, London global of corporate finance, and Mark Davidson, London head of corporate finance for Europe and Asia, left the firm in recent weeks. Joachim Liese, the bank's most senior corporate financier in Germany, and Markus Wiendieck, a senior vice president who ran Swiss corporate finance, also left, along with three junior staff. The exits followed a change of strategy as Fox-Pitt focuses on 'growth areas.'
Separately, fund manager Deutsche Asset Management, suffered a seemingly less intentional staff leakage when F&C asset management hired five of its UK equity fund managers. Peter Lees, former head of UK equities, Luke Newman, Michael Ulrich, Makis Katesis, and Phil Doel all made the jump. Lees will become head of UK equities at F&C.
DeAM lost another fund manager when Merrill Lynch hired Andrew Tusa, its head of corporate governance and a senior fund manager, as a director in the bank's corporate broking arm.
Rupert Henson, head of UK equity sales at ABN Amro, is set to leave the bank. Adrian Hill, head of US equity sales, will take on some of his responsibilities. Henson's departure follows that of several other senior equity staff following claims that ABN Amro is switching its focus from equities to fixed income and derivatives, something the bank denies.
Fund management: Schroders boosts property development
In other fund management moves, Schroders hired Andrew Thomson from Arlington Property Investors as head of property product development. Thomson, who was managing director of business development at Arlington, will focus on creating European products at Schroders.
Mellon Global Investments hired Rainer Lenzin from Lehman Brothers as a vice president responsible for sales into Austria and Switzerland. At Lehman, Lenzin was responsible for institutional equity sales into Switzerland, Holland and Germany.
Merrill Lynch investment managers appointed Andrew Ritche from Marble Bar Asset Management as an analyst covering European financials.
Close Finsbury Asset Management hired Stuart Alexander from Insight Investment as head of distribution.
Paul Marriage and Jeff Atherton have left Insight Investments. Marriage, a small caps manager, is joining Cazenove Fund Management. Atherton, a Japan-focused manager, is joining Stratton Street Capital.
Debt and fixed income: BNP Paribas adds five in covered bonds
BNP Paribas hired five bankers in London and Frankfurt as part of a move into the covered bond market. Menko Jaekel joined the debt capital markets and financial institutions group from Citigroup, covering Germany and Austria. Thomas Bayern and Steffan Lautz joined the frequent user rates sales team in Frankfurt from Bayern LB and Lehman Brothers respectively. Ralph Heinig joins the structured products market team for Germany and Austria from Toronto Dominion Bank.
Barclays Capital strengthened its inflation-linked trading team. Lisahn Shi joined from Barclays Global Investors to cover inflation linked research. Mike Oman, former head of inflation-linked research, moved into trading to trade UK inflation derivatives. Benoit Chriqui moved to London from Barclays Capital in New York to head European inflation derivatives trading.
SG Corporate and Investment Banking launched a dedicated Paris-based emerging markets debt team. Cecile Camilli, an SG loans banker, was appointed head of emerging markets loans syndication for the group. She will be supported by Jean-Philippe Carvaillo, an associate from BNP Paribas in New York. Hervé Lageart, part of SG's corporates origination team, will be head of emerging market debt origination, supported by SG banker Stephane Marcial as senior originator.
Private equity: Carlyle hires from Bridgepoint
Carlyle Group hired Andrew Burgess from Bridgepoint Capital to its European buyout team as a managing director in London
Kleinwort Capital hired David Ramsey from KPMG private equity group as an investment manager.
Oakwood Group, a private equity group focused on specialist lending, hired four new staff from HBOS. They were: Michael Bolton, Alan Cleary, John Nixon, Rob Williams and Mark Smith.
Investment banking: Close hires from Bear Stearns
Close Brothers appointed Richard Madden from Bear Stearns as a director in its media sector team.