Human Capital Markets - Recruitment trends

  • 16 Nov 2001
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Strategic hiring

In Bob Diamond Barclays Capital has a leader capable of attracting top talent. Furthermore, Barclays is not lumbered with poorly performing corporate finance and equity divisions and can afford to make strategic hires. Diamond's attempted raid on the New York investment grade bond team at Credit Suisse First Boston grabbed headlines earlier this year, reportedly forcing CSFB's then CEO Allen Wheat to agree to generous guaranteed contracts to persuade his bankers to stay. Diamond went on to make a successful bid for Deutsche Bank's Grant Kvalheim, John Winter and Peter Goettler.

European expansion

European banking operations have been buoyant in recruitment, and Bear Stearns has been an aggressive hirer. A key appointment was BNP Paribas veteran Michel Péretié, who was brought in to lead fixed income for Europe and Asia in June 2000. Under Péretié came, amoung others, Andy Clapham, a high profile name in securitisation, to develop the European ABS business, Nomura's European head of fixed income and derivatives, Jerome Camblain, formerly of Goldman Sachs' Noel Dunn, who leads corporate debt coverage in northern Europe, and Yves Leysen, who runs European debt corporate finance.

European high yield hopes

There seem to have been more high yield hires than deals this year. Banks are positioning themselves for the development of a European high yield market to match that of the US, by bringing in the expertise of the Americans. Research hires have been prevalent, such as ABN Amro's appointment of Ray Stotlemeyer to lead global high yield research. Barclays Capital made a parallel hire in February, bringing Frederick Taylor on board as global head of high yield research.

Hot originators

Debt capital market originators are in top demand. Italian securitisation is one of the richest areas in global debt markets at the moment, but it remains a tight, elite community of no more than 40 key executives, according to one search consultant. Any move causes a rumble, and in May, Dresdner Kleinwort Wasserstein successfully lured away three Milan-based ABS originators, Jimmy Fiore, Fulvia Neri and Marco Grimaldi, from ABN Amro.

Team moves and defence

Maarten Stegwee retired in October, only 18 months after his move from BNP Paribas to Credit Suisse First Boston, taking with him 10 members of his ace securitisation team. That move increased compensation expectations across the market, as BNP fought CSFB with counter-offers. Team moves, though, are difficult to orchestrate, carry the risk of developing a micro-culture and are described by one recruiter as a function of a looser market. But the importance of a retention strategy has been demonstrated, and Schroder Salomon Smith Barney and Royal Bank of Scotland are said to have among the finest. Event-related 'talent' defence work is developing as a new activity for search firms.

  • 16 Nov 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 20,521.83 80 6.93%
2 Barclays 20,382.90 37 6.89%
3 JPMorgan 18,760.94 72 6.34%
4 Goldman Sachs 17,444.96 41 5.89%
5 BNP Paribas 16,525.22 36 5.58%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 48,528.41 214 6.32%
2 Deutsche Bank 44,075.51 161 5.74%
3 BNP Paribas 41,452.79 240 5.40%
4 JPMorgan 37,278.65 134 4.85%
5 SG Corporate & Investment Banking 36,258.27 187 4.72%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 1,607.28 5 24.01%
2 Credit Suisse 1,301.65 4 19.45%
3 UBS 970.80 3 14.50%
4 BNP Paribas 522.35 4 7.80%
5 SG Corporate & Investment Banking 444.17 3 6.64%