With so much turnover on Wall Street, it can be difficult to keep track of all of the investment banking movers and shakers as they move from one firm to another. That said, it’s important to know which senior bankers have hiring authority and want to add headcount to the desk or group that they lead.
Here are some of the U.S.-based investment banking managing directors and above who changed jobs last year and are likely looking to hire this year (in no particular order).
Mike Blum of Goldman Sachs
Mike Blum, the former chief technology officer at KCG Holdings, the high-frequency trading firm acquired by Virtu Financial, joined Goldman last year as a partner and CTO for its electronic trading unit. Blum can be expected to hire. Last year, Lloyd Blankfein said Goldman added 100-plus people focused on electronic trading, 70 of whom were engineers.
In equities, the firm is after quantitative hedge fund clients, to whom it wants to push its electronic execution and prime financing services. Marcelo Pizzimbono, who left his role within Deutsche’s prime brokerage, which has endured a tumultuous two years of cutbacks, slumping revenues and senior personnel changes, to re-join Goldman Sachs as an MD of equity sales.
Kristen Macleod of Barclays
Barclays was one of the banks that hired the most in 2017 across electronic trading, macro, FX and rates, cash equities, prime services and credit, as well as technology, bringing in 40 MDs last year, 20 of them in its markets business.
They included MDs Joseph Hegner, formerly with Goldman Sachs and Bank of America Merrill Lynch, where he specialized in hospital mergers and acquisitions and healthcare for close to 15 years, and Kristen Macleod, a U.S. FX sales specialist who worked at Goldman for 14 years before joining Barclays in July.
In addition, Michael Lublinsky, who previously oversaw fixed-income trading in the Americas for Brevan Howard, joined Barclays in September to head the bank’s macro trading desks.
Paul Huchro of Deutsche Bank
Deutsche brought on former Goldman partner and veteran U.S. credit trader Paul Huchro as an MD and the global head of investment-grade credit trading in October. Presumably he'll still have hiring authority to build out his team over the course of the year - although DB is now reviewing its businesses under its new CEO, so maybe not.
David Schieldrop of Wells Fargo Securities
Wells Fargo is planning to further integrate its corporate and investment banks to reduce costs. That will likely lead to layoffs across industry coverage groups, advisory teams, equity and debt capital markets origination and certain corporate-banking relationship managers.
However, David Schieldrop, who spent the past nine years at Barclays and previously worked at Salomon Brothers, Citi and Lehman Brothers, has moved across to Wells Fargo Securities to lead its FIG coverage as the head of financial institutions M&A. He is tasked with building out that group.
Tom Chippas of Citi
Citi hired Tom Chippas, the former COO of Axoni, electronic trading principal at Bank of America, low-latency electronic execution specialist at Citadel Technology and MD at Deutsche Bank and Barclays, as a managing director and the global head of quantitative execution in June 2017.
Chippas is expanding Citi’s low-latency execution platform via a hiring push.
Mike Paliotta of Evercore
The former head of equities at Credit Suisse, Mike Paliotta became chief executive of Evercore ISI in September 2017. ISI is Evercore’s growing equities business. Paliotta spent 18 years at Credit Suisse and can be expected to turn to his old employer for lateral-hiring candidates as he establishes himself at his new one.
Jonathan Kaufman of Moelis
Last year, Moelis & Co. was recruiting across all levels as a result of growth, rather than exits. In October, ex-Harris Williams & Co. industrial technology investment banker Jay Hernandez joined the bank’s Boston office as an MD and ex-Marlin & Associates, UBS and Deutsche Bank fintech investment banker Jonathan Kaufman join the San Francisco office, also as an MD. If you’re aiming to join the firm’s office in either of those cities, then you’ll likely need to impress one or the other.
Timothy Roepke of Jefferies
Jefferies, Rich Handler’s mergers-and-acquisitions advisory house, added 121 people in 2017 and made a massive leap up the U.S. M&A league tables during the first quarter of 2018.
David Katz, a senior ranking analyst covering the gaming, lodging and leisure industries, returned to Jefferies as an MD in November.
That same month, Michael Long, a managing director within Wells Fargo’s TMT investment banking team, joined Jefferies as an MD and the global head of tech-enabled services. Patrick Bailey joined as an MD of technology investment banking from that same team at the same time. Same with Thomas Wilson, the ex-head of business and transaction services at Wells Fargo, who became the global head of tech-enabled services M&A at Jefferies.
In October, Jefferies added hired Timothy Roepke, a seven-year veteran of Credit Suisse, where he was a Technology, Media and Telecommunications (TMT) investment banking managing director in New York.
Reinhard Koester of Houlihan Lokey
Houlihan Lokey has been expanding – it had 600 front-office staff in 2012, a figure that rose to 872 at the beginning of last year and 893 at the end of the third quarter.
The Los Angeles-based firm hired Reinhard Koester as an MD and the co-head of FIG from Barclays Capital, where he was the co-head of specialty finance, and James Wolf, a 30-year EY veteran who is now an MD in the tax and financial reporting valuation group.
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