Richard D'Addario, the senior portfolio manager and director of research at Franklin Advisers, left the firm in a reorganization that also saw the departure of Chauncey Lufkin, cio of Franklin's debt group (1/26). In May D'Addario landed at Avenue Capital Management. Meanwhile, Lufkin is said to be putting together a new firm called Lufkin Advisors (5/10).
Mark Quinn, a distressed loan trader at Lehman Brothers went to Troob Capital Management (2/23). The following month, Peter Schellbach, a trader of distressed and crossover loans at Goldman Sachs, hopped to Lehman (3/8).
Paul Travers, the head of the bank loan team at Indosuez Capital, left ahead of the planned merger with Credit Lyonnais (3/22).
James Ferguson, who founded Octagon Credit Investors in 1994, and portfolio managers Michael Nechamkin and Andy Gordon increased their stake in Octagon to a majority ownership position after an auction process that could have led to an outright sale of the of the business to a rival (3/29).
Hartford Investment Management started a bank loan unit and brought over loan investment pros from Cigna Investment Management to lead the effort. (3/29).
Citigroup held on to loan trader Peter Lapina after an attempt by Goldman Sachs to lure him over (4/19).
Morgan Stanley hired a trio of ex-Fleet Securities loan pros including Todd Dahlstrom, Michael Cunningham and Eric Vandermel following Fleet's merger with Bank of America (4/19).
Bank of America scooped up Michael Nitka, a director and loan trader in Société Générale's SG Corporate & Investment Banking unit, as a sourcer and salesman (4/19).
Amy Siskind, a managing director of bank debt trading moved from The Seaport Group to Imperial Capital (5/10). Claudio Phillips, a former par trader at Salomon Smith Barney, rejoined the loan market as a senior managing director and head of the distressed bank debt trading group at Seaport, replacing Siskind (5/10).
Highland Capital Management bought the bank loan asset management business of Columbia Management Advisors (3/19). Columbia's Brian Good and Jim Fellows moved to McDonnell Investment Management (5/31).
Mark Lies, global head of leveraged finance at Lehman Brothers, moved from New York to London to head up the high-yield loan and bond origination business (6/7).
Clay Desjardine planned to leave his position as head of secondary sales and trading at Deutsche Bank (6/21). Anthony Logrippo moved from loan sales to the loan trading desk, working with Steve Snizek as head trader (9/20).
Joe Russell, head of high-yield trading at Credit Suisse First Boston, moved to CSFB's alternative capital division and Phil DeSantis, managing director and co-head of distressed loans replaced Russell. Senior par trader Bob Franz moved to fill DeSantis' distressed spot and Vik Natarajan, a par salesman, replaced Franz (7/19).
Jeff Stuart, head of structuring and marketing for syndications at Bank of Tokyo Mitsubishi, joined The Royal Bank of Scotland as managing director and head of loan markets for the Americas (7/26). By the end of the year RBS had also lured Andrew Rothstein from Merrill Lynch Capital,Chad Hersch from Credit Suisse First Boston, David Morin from ABN Amro and Marin Gagliardi from BNP Paribas.
Cargill Value Investment hired Mark Sorensen, managing director and head of loan trading for TD Securities (8/2). The following month, John Bown and Alex Kozich left TD for Credit Suisse First Boston and Deutsche Bank's loan sales desks, respectively (9/13).
Bill Swenson joinedCIT Business Credit as managing director and head of loan distribution, sales and trading (9/27).
Greg Nelson, head of J.P. Morgan's global syndicated loan business, retired with Andy O'Brien, Nelson's top lieutenant, filling his shoes (11/29). Meanwhile, Eric Rosen was promoted to a newly created position of co-head of credit trading.