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October 15th, 2008

Job Bank - Oct 14-15

Posted by: Reuters Staff

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The following are job changes within the financial industry for Oct. 14 - 15, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

PIMCO
The U.S. investment management firm hired Christopher Getter as senior vice president and emerging markets product manager, based in Newport Beach, California. Getter leaves Fidelity, where he was an emerging market debt research analyst.

CANACCORD CAPITAL
The Canadian investment dealer appointed John Rothwell executive vice president and head of private client services, beginning Oct. 30. Rothwell was most recently president of Wellington West Capital.

PENN LIBERTY
The U.S. community bank appointed H. David Tamimie as senior vice president of commercial and industrial/commercial banking. He was previously senior vice president in Wachovia’s commercial banking division.

PUTNAM INVESTMENTS
The Boston-based global money management firm appointed Keith Thomas to senior vice president, head of European consultant relations. Based in London, Thomas is responsible for directing Putnam’s relationships with investment consultants in the United Kingdom and continental Europe.

BROADPOINT SECURITIES GROUP
The investment bank elected Victor Mandel to the company’s board of directors. Mandel is the founder and managing member of Criterion Capital Management, an investment company.

CALYON
The corporate and investment banking arm of Credit Agricole appointed Duke Choi as head of fixed income markets for Korea. Choi will be based in Korea and joins from Mizuho Corporate Bank in Korea, where he was country head of treasury.

1ST REVERSE FINANCIAL SERVICES
The subsidiary of Wilmington Savings Fund Society FSB (WSFS Bank) appointed Robert Wallace as eastern region director of retail reverse mortgage Lending.

FIRST LONDON
The merchant banking and asset management business appointed Florian Lennert as managing director of First London Intellectual Property. Prior to his role with First London, Florian was director of corporate relations at the London School of Economics and Political Science.

THOMSON REUTERS
The provider of financial information appointed Manvinder Singh (Vindi) Banga to its board of directors, effective Jan. 1, 2009. Banga is president of Unilever’s foods, home and personal-care business in London.

HARTFORD FINANCIAL SERVICES
The insurer and financial services firm named Robert Paiano senior vice president and enterprise chief risk officer, reporting the chief financial officer. Paiano was chief risk officer of the property casualty operations.

INVESCO
The investment management company hired Michael Mondo as senior director of its institutional sales and service team, based in Boston. Mondo was previously with JPMorgan Asset Management and Evergreen Investments, and State Street Global Advisors.

PERMIRA
The private equity firm appointed Hiroaki Yoshihara as senior adviser. Yoshihara was most recently international vice chairman and global managing partner at KPMG when he retired in 2007.

BANK OF NEVADA
The subsidiary of Western Alliance Bancorp named Joyce Smith as senior vice president, branch deposit manager of its Rainbow Regional Office. Smith was previously executive vice president, chief retail officer of Community Bank of Nevada.

LEGAL & GENERAL GROUP
The British-based insurer appointed Claire Evans to the new position of marketing director for retail investments. Evans recently joined the firm from Prudential, where she was head of marketing for retirement savings.

HSBC
HSBC Securities appointed Kenichi Tatsuzawa as head of global markets HSBC Securities (Japan) Ltd. Tatsuzawa was previously head of fixed income sales.

STATE STREET GLOBAL ADVISORS (SSgA)
The investment management arm of State Street Corp named Richard Lacaille as global chief investment officer. Lacaille had held senior management positions at SSgA since joining the firm in 2000, including head of global active equities and European chief investment officer.

October 10th, 2008

Job Bank - Oct. 10

Posted by: Reuters Staff

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The following are job changes within the financial industry for Oct. 10, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

CREDIT SUISSE
Laurent Charbonnier will join Credit Suisse as a Director on the Metals & Mining team in the EMEA Energy Group in the Investment Banking Department, starting in December, according to an internal memo. Charbonnier will move to Credit Suisse from UBS AG, where he most recently served as executive director and European head of steel, paper, packaging in global industrial group.

VANGUARD
The U.S.-based investment management company announced that Peter Volanakis has been elected to its board of directors. He is president and chief executive of Corning Inc.

HSBC HOLDINGS PLC
The parent company of the HSBC Group appointed Marvin Kin Tung Cheung as a director, effective Feb. 1, 2009. Before joining HSBC, Cheung was chairman and chief executive officer of KPMG’s operations in China and Hong Kong from 1996 to 2003.

ING
ING Investment Management Australia has hired Bradley Gibson to head interest rate strategy within its fixed income team, the company said. Gibson, who starts on Nov. 3, will report to Greg Michel, director of fixed income. He previously worked at the Commonwealth Bank of Australia as head of global markets in Singapore and AMP Capital Investors in Sydney and London where he was managing fixed income and currency portfolios.

STANDARD CHARTERED BANK PLC
The Asia-focused British bank named Peter Wheeler as head of wholesale banking, West. Wheeler, who will be based in London, joins the Wholesale Banking Management Group, effective immediately.

COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT

Australia’s largest fund manager said it has hired Annette Mullen as a senior portfolio manager in its fixed interest and credit team. Mullen, who starts on Oct. 27, joins from the New South Wales state Treasury where she managed fixed interest, cash assets and risk.

DTZ HOLDINGS

The global real estate adviser appointed Paul Idzik as group chief executive officer. Idzik, who will join the company and the board on Nov. 3, was chief operating officer of Barclays plc from 2004 to 2008.

October 9th, 2008

Job Bank - Oct. 9

Posted by: Reuters Staff

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The following are job changes within the financial industry for Oct. 7, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

UBS INVESTMENT BANK
The Swiss investment bank said Janine McGrath Shelffo will join its Investment Banking Department (IBD) as a Managing Director in its Technology, Media and Telecommunications Banking group. Prior to this assignment, Shelffo was a managing director and senior coverage banker for the media sector at Lehman Brothers, where she worked since 2004.

PRICEWATERHOUSECOOPERS LLP
The New York based assurance, tax and advisory services firm said John McCaffrey has been appointed leader of the U.S. Transaction Services group, and Timothy Hartnett as U.S. Private Equity Leader. McCaffrey previously headed the firm’s U.S. Private Equity group and replaces Michael Burwell, who is now the U.S. firm’s chief financial officer.

RBC CAPITAL MARKETS
The Canadian bank’s investment banking arm named Peter Walraven as managing director of the firm’s U.S. Debt Capital Markets efforts for Infrastructure and Project Finance. He will be based in New York. Prior to this appointment, Walraven worked at JP Morgan, most recently as a managing director and a member of that firm’s global private placements group.

MERRILL LYNCH BANK (SUISSE)
The investment bank has appointed Mark Kahnau as the new office manager of its Global Wealth Management Zurich branch.

STANDARD LIFE INVESTMENTS
Standard Life Investments, the global fund manager appointed Will Pawson, investment director - Southern Europe. Pawson joins from Morley Fund Management, now part of Aviva Investors, and will be based in Edinburgh.

STANDARD CHARTERED BANK
The Asia-focused British bank named Christian Wait as global head of capital markets. Wait, who will be based in Singapore, joins from Lehman Brothers.

J O HAMBRO CAPITAL MANAGEMENT
The boutique investment firm appointed Gavin Rochussen as chief executive officer. Rochussen left Fleming Family & Partners in August this year after 5 years as CEO.

October 7th, 2008

Job Bank - Oct. 7

Posted by: Reuters Staff

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The following are job changes within the financial industry for Oct. 7, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

BLACKROCK
U.S. money management firm BlackRock Inc appointed John Athill to its UK institutional account management team as a director. He joins BlackRock from Schroders, where he was a client director for UK Institutional Pension Funds.

GREENHILL & CO INC
The investment bank said Christopher Cooke will join the firm as a managing director in its recently formed Fund Placement Group. Cooke, previously at Lehman Brothers, will be based in London.

THREADNEEDLE
The fund manager named Nick Ring to the newly created role of global head of product. Ring previously held the position of head of Northern Trust International Wealth Management.

STANFORD FINANCIAL GROUP
Stanford Group Co, a member of the Stanford Financial Group said Jeff Ricks and Michael DeGolier  have joined Stanford’s Austin Private Client Group office as vice presidents/financial advisors. Stephanie Lewis has joined the company as a client service associate. Ricks and DeGolier join from Banc of America Investment Services Inc in Austin.

HOULIHAN LOKEY
The U.S. investment bank specializing in mid-cap companies appointed Cedric Fontenit as senior vice president in its European Corporate Finance team.

October 3rd, 2008

Job Bank - Oct. 3

Posted by: Reuters Staff

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The following are job changes within the financial industry for Oct. 3, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.


JEFFERIES & CO
Kelly R. Holloway has joined as a senior vice president in the Jefferies Group Inc  unit’s fixed income group. Holloway will focus on the sales and trading of U.S. agency bonds, corporate bonds, mortgage-backed and other fixed income securities for institutional investors based in the Middle East. Holloway was most recently a senior vice president at Vining Sparks, a regional broker-dealer based on Memphis, Tennessee, where he worked for the past 10 years.

PALI CAPITAL
Pali Capital Inc, the U.S. broker-dealer subsidiary of Pali Holdings Inc, announced the continued build-out of its equities business with the hiring of an International Equity Trading team in the U.S. as well as a distressed equities and SPACs trading team. International equity trading in the U.S. will be led by Brad Marks, who joins the firm’s New York office as head of U.S. equity trading. Joining Marks on the international trading effort are Michael Montalbano and Charles McLaughlin. The distressed equities and SPACs team will be led by Jesse Podell. All four professionals join Pali from their prior employer, Jefferies & Co.

STANDARD LIFE INVESTMENTS
Standard Life Investments, the global fund manager, has expanded its U.K. equities team with the appointment of Andrew Millington as Investment Director, U.K. equities. Andrew was previously employed by Baillie Gifford within its U.K. equities team and as manager of the Baillie Gifford Income Fund.

ACE Global Markets
The affiliate of ACE Group of Cos, which is led by ACE Ltd, hired Russell Burgess as underwriting manager, accident & health. Burgess was earlier with Chubb Corp’s Chubb Insurance Co.

ALIXPARTNERS
The restructuring, consulting, and financial advisory firm appointed Dan Murphy, previously with Ernst & Young, as a director in its performance improvement practice. Murphy will be based in London.

UBS
The Swiss bank has hired four Lehman Brothers Holdings Inc investment bankers covering oil and gas in Asia, the third time this week Lehman bankers have walked out on new owner Nomura Holdings

STANDARD CHARTERED
The bank has hired Arun Murthy, former Asia head of Lehman Brothers’ commodities team in Singapore, as its new global head of energy, two trading sources close to the discussions said. The sources Reuters spoke to said StanChart had also hired two more ex-Lehman Brothers traders to join the team in Singapore.

SOCIETE GENERALE CORPORATE & INVESTMENT BANKING
The French bank named Charles Pierron as chief country officer for Korea based in Seoul. Pierron was earlier chief country officer for Germany.

CLARET CAPITAL
The private investment firm hired Dermot Hanley and Yuki Narula as managing directors of private equity funds in its Dublin and New York offices respectively. They both were
previously with JPMorgan Chase & Co.

ABBEY
The unit of Spanish bank Santander named Paul Pester, currently managing director of premium banking at Abbey, to take responsibility for Bradford & Bingley’s retail distribution with immediate effect.

October 2nd, 2008

Job Bank - Oct. 2

Posted by: Reuters Staff

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The following are job changes within the financial industry for Oct. 2, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

BANK OF AMERICA CORP
The bank said John Thain, chief executive of Merrill Lynch & Co Inc, will be president of global banking, securities, and wealth management when his company is acquired by the bank next year.

CITADEL INVESTMENT GROUP LLC
The hedge fund said it hired three former Lehman Brothers executives to expand its fixed-income business. Alex Maddox, who had been managing director of securitized products trading at Lehman, will be Citadel’s head of securitized products in Europe. Timothy Bryan Wilkinson, a former head of fixed income proprietary trading at Lehman, and John Alexander Goodridge, will join Citadel’s proprietary trading group. All will report to Patrik Edsparr who joined Citadel from JP Morgan earlier this year as the head of global fixed income and to run the hedge fund’s European division.

HURON CONSULTING GROUP
The financial consulting services firm appointed Mark Barnes as a managing director in its health and education consulting practice. Barnes was previously with St. Jude Children’s Research Hospital.

STATE COMPENSATION INSURANCE FUND

The state fund announced five executive appointments. It named Jay Stewart as chief financial officer, Harrison Jerome as chief operating officer and Doug Stewart as chief risk officer. It also hired Rebecca Wanta as chief information officer and Carol Newman as general counsel.

WITHERS GROUP
The law firm appointed Adam Duthie as a partner in its London corporate team who will take over as head of the European corporate practice. Duthie was previously with Bevan Brittan.

October 1st, 2008

Job Bank - Oct. 1

Posted by: Reuters Staff

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The following are recent job changes within the financial industry, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.

FEDERAL AGRICULTURAL MORTGAGE CORP
Farmer Mac appointed Michael Gerber as acting president and chief executive officer, succeeding Henry Edelman, effective immediately. Gerber will continue to serve as chief executive of Farm Credit of Western New York, an association in the Farm Credit System.

EVERCORE PARTNERS INC
The U.S. merger advisory firm hired Ray Newton III as senior managing director in its private equity group, Evercore Capital Partners. Newton was previously with Perseus LLC. His appointment is effective Oct. 1 and he will be based in New York.

BANK OF NEW YORK MELLON CORP
The financial services company hired Simon Putt, previously with Fidelity International, as director, head of UK Institutional Client Relationship Management. Putt will be based in London.

CAPITAL & REGIONAL PLC
The British property fund manager promoted Charles Staveley to group finance director effective Oct. 1. He was deputy finance director with the company earlier.

RESIDENTIAL FINANCE CORP
The mortgage lender hired Mindy Hoffman as director of operations closing - post closing and promoted Tim Jolliffe to director of operations - processing and pipeline management. Hoffman was previously with U.S. Bancorp.

SG PRIVATE BANKING
The wealth management arm of Societe Generale Group hired Jiro Sekino as executive director of Trust Services Department at SG Private Banking Japan Ltd. He was previously with STB Wealth Partners Co Ltd.

KILN (UK) HOLDINGS LTD
The insurance and reinsurance underwriting group appointed Charles Franks as chief executive and Edward Creasy as chairman of its unit Kiln Group. The appointments will be effective from January 1, 2009.

THAMES RIVER CAPITAL LLP
The investment boutique appointed Graeme Pollok as compliance and risk manager with immediate effect. Pollok was earlier with the Financial Services Authority.

MBA LAZARD
The joint venture between Lazard Ltd and MBA Group hired Peruvian banker Augusto Barreto from Citigroup Global Markets to open a new financial advisory office in Lima, effective immediately.

BLACKSTONE GROUP
The private equity firm hired several former HSBC Holdings Plc and Lehman Brothers Holdings Inc executives in Hong Kong and Beijing. Anthony Steains and Jianping Zheng, formerly with Lehman and HSBC respectively, were named as partners. Johan van Jaarsveld and Dong Hyun Lee, both formerly with Lehman, and Jing Xiaowen, formerly with HSBC, were named as managing directors.

BROWN BROTHERS HARRIMAN
The investment management firm named Audrey Childe-Freeman, formerly senior European economist at Canadian Imperial Bank of Commerce’s CIBC World Markets, as vice president and senior currency strategist as part of the firm’s foreign exchange currency strategy team.

STANDARD & POOR’S
The rating agency, which is a division of publisher McGraw-Hill Cos Inc, promoted Ping Chew to managing director and head of Greater China. Chew will be based in Hong Kong.

SOCIETE GENERALE
The financial services group promoted Jean-Pierre Mustier to head global investment management and services and said he will be appointed chairman and chief executive of Societe Generale asset management. It also named Philippe Collas as senior adviser to Societe Generale’s CEO Frederic Oudea. Societe Generale hired Francoise Mercadal-Delasalles as head of operating efficiency and innovation. She was previously with Caisse des Depots group.

ASSURANT INC
The specialty insurer named Stephen Gauster senior vice president and chief corporate counsel, effective immediately. Previously Gauster was with Prudential Financial Inc
.

SOVEREIGN BANCORP INC
The largest remaining U.S. savings and loan named Paul Perrault chief executive.

TKP INVESTMENTS
The fiduciary pension fund service provider unit of Dutch insurer Aegon NV appointed Roelf Pater, previously with ING Groep NV’s ING Investment Management Europe, as head of client services and investment strategy. Pater will join on Oct. 1.

September 30th, 2008

Lehman staffers clog banks’ hiring pipelines

Posted by: Reuters Staff

lehman-man-2.jpgWall Street banks are seeing a glut of resumes from Lehman Brothers, as staff there are contacting colleagues at other firms directly to find new jobs after their investment bank went bankrupt. Some banks, including JPMorgan Chase and Credit Suisse, have told headhunting firms looking to find jobs for former Lehman Brothers employees that they will not pay the firms for putting them in touch with these job candidates, because they are already inundated with direct applications.

Lehman Brothers Holdings Inc, which filed for bankruptcy last week, has 26,000 employees. About 10,000 have been given jobs through at least the end of the year, after Barclays Capital bought Lehman’s North American capital markets business and other assets.

Headhunting firms said they are receiving scores of resumes from anxious former Lehman employees, but banks aren’t interested in paying headhunters to interview these staffers.

Click here for the rest of the article.

September 30th, 2008

Nomura moves to lock in Lehman’s Asia group

Posted by: Reuters Staff

nomura.jpgHONG KONG, Sept 30 (Reuters) - Japan’s Nomura Holdings plans to match last year’s bonus pool for Lehman Brothers’ Asia group, according to sources familiar with the matter, in an effort to prevent Lehman bankers from leaving.

The move is also aimed at showing Nomura’s commitment to Lehman bankers, who are still reeling from the collapse of the 158-year old New York institution.

The exact size of the bonus pool and exactly who is entitled to it is unclear, with top performers expected to get first claim.

Lehman’s Asia-based bankers will be offered cash for their 2008 bonus, the sources say, adding that in some cases, 2009 bonus money will be guaranteed as well.

Click here for the rest of the article.

September 30th, 2008

Opinion: Demand for displaced bankers will still exist

Posted by: Reuters Staff

John A. Challenger is chief executive officer of global outplacement and business coaching consultancy Challenger, Gray & Christmas, Inc. The opinions expressed here are his own.

challenger.jpgThe turmoil that is shaking Wall Street to its core could eventually go down as the worst financial crisis in American history. We are already hearing comparisons of the current situation to the bank failures and stock market crash that ignited the Great Depression in the 1930s.

While we will have to wait to see the full historical impact of the credit market collapse on the economy, one thing is already certain: the crisis has reaped a heavy toll on financial sector jobs, leaving tens of thousands unemployed and with little hope of re-employment in the same line of work.

Since August 2007, when the collapse began in earnest, financial institutions have announced nearly 200,000 job cuts. This year, job cuts in the sector have reached 103,000 through August. When the dust settles from the most recent flurry of bank closings, seizures and rescues, we could see another surge in layoffs, which would probably push 2008 job cuts beyond last year’s record total of 153,105.

Unfortunately, the job cuts are not isolated to those who created this situation. They impact everyone, from the fund managers and traders to human resources professionals and administrative assistants.

The big question on the minds of the newly jobless: what now?

Click here to read the rest of the article.