credit asset management
The John Mack led rebuilding of Morgan Stanley continues. Last week it made significant moves to rebuild its financial institutions group, hiring a pair of bankers away from Credit Suisse and one from Merrill. Today comes the announcement that it has hired two asset managers from New York Life—Kathy O'Connor and Jeff Sanders—to bolster its asset management business. The pair managed around $3 billion in assets for New York Life, and previously worked together at Towneley Capital Management.
Reuters’ rundown of the London financial sector's revolving door is up (and updated). It’s too long, so here’s the “itty-bitty” version of the highlights from Reuters "MOVES" column. Note the two prominent defections from Goldman, which has re-ignited speculation that the recent decisions on how to structure the firm’s leadership after the departure of Hank Paulson were more divisive than has been reported.
Jacques Cailloux (economist)=Morgan Stanley Royal Bank of Scotland.
Alan Greenough (lawyer)=White and Case Lovells
Terence Moll (quant strategist)=Metis Capital Management Investec Asset Management
Randy Sessions (i-banker)=Goldman Sachs Morgan Stanley
Adam MacDonald (asset-backed securities)=UBSBank of America
Paul Wilde (asset-backed securities)=Egg Bank Bank of America
Barry Hunter (another abs guy)=Amethyst Corporate Finance Bank of America
Ghassan Abdul Karim (investment banking, Middle East)=Goldman Sachs JP Morgan
Zahed Chowdhury (research)=HSBCDeutsche Bank
MOVES-RBS, Lovells, Investec, Grant Thornton, others
[Reuters]