SSSB splits up European equity operations

Schroder Salomon Smith Barney is restructuring its continental European equity operations by appointing country heads for its major markets.

  • 06 Apr 2001
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The new country managers will have responsibility for sales of Salomon Smith Barney products into their jurisdictions, as well as global sales of local products.

Until now, the European operation has been run on a product basis by managers in London and New York. Those managers will retain responsibility for their products, but income streams will now also be managed locally.

The first announced country manager, Peter McGahan, moves to Paris on May 17 to take up the reins as head of equities in France.

"My short term objective is to do a full audit of the business," he told EuroWeek. "That should take me up to mid-June. I will then be presenting a two year business plan to go forward."

McGahan expects to apply some of the management techniques of the London office, where he is currently head of pan-European sales to UK and international institutions.

"I have some ideas already," he said, "but will be going in with a blank sheet of paper."

McGahan, who began his career in Spanish and then pan-European equity sales at Schroders, reports to Richard Wyatt, deputy head of equities in Europe.

The country heads for Spain, Italy and Germany have not yet been announced.

In a related move, SSSB has announced a series of hires to its German equity operation.

Two salesmen from Dresdner Kleinwort Wasserstein, Heinz Zörgiebel and Thomas Raschdorf, become directors. They will sell pan-European product to German institutional clients, reporting to Stefan Mülheim, who heads European equity sales in Frankfurt.

Christof Weichert joins from DG Bank as a vice president selling small and mid-cap equities to German clients.

Sales trader Werner Litzinger joins as a director from Bankhaus Metzler, where he headed trading and sales trading specialising in German equities.

Matthias Jost follows him from Metzler as a vice president. They report to Thomas Dinges, head of sales trading for Germany.

Antonio Serrano joins Steffan Hofmeister's cash trading team, also from Bankhaus Metzler. Ramon Ortiz-Soto joins the middle office from Commerzbank.

  • 06 Apr 2001

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