The following is a list of prominent personnel moves from around the U.S. and European markets. To submit an item for inclusion in this column, please contact Scott Goodwin, managing editor, at 212-224-3276 or sgoodwin@iinews.com.
* Fannie Mae's board of directors picked Leslie Rahl to fill the board seat vacated when Stephen Friedman resigned to become an assistant to President Bush and director of the National Economic Council. Rahl is the president and founder of Capital Market Risk Advisors, a risk management and capital markets strategy firm; she previously spent roughly 20 years at Citibank, including a stint as co-head of the equity derivatives group.
* Jonathan Sandelman was last week named president of Banc of America Securities and was put in charge of running the firm's fixed-income and equity businesses. Sandelman previously had been in charge of the equity business and replaces Carter McClelland, who had been president and is now chairman.
* Daniel Kaiser, managing director in structured credit marketing and origination at Bear Stearns, has resigned. He is not thought to have joined a competitor, according to an outside official.
* Mark Oldcorn, previously of Goldman Sachs, joined Bank of America as an investment banker in London. Oldcorn will focus on helping European corporates raise capital and manage risk through the use of derivatives. He reports to Alberto Piedra, head of the financial institutions banking team.
* Michael Linko joined monoline insurer XL Capital Assurance as a director in its U.S. public finance group. The position is a new one. Linko previously worked at Ambac Financial Group, where he had been a first v.p. and was responsible for transactions including lease financings. At XLCA, he reports to Thomas Randazzo, managing director and head of the group.
* Nick Pappas, a credit derivatives trader at Bear Stearns, has moved to a similar role at Goldman Sachs.Derek Smith, managing director and head of the investment-grade credit derivatives trading desk at Goldman, says Pappas was hired as part of an effort to expand the firm's franchise.
* Aaron Holsberg, a senior research analyst in emerging markets, has left J.P. Morgan Securities to join ABN AMRO as senior credit analyst for Latin America. He will work with Luciana Massaad, a corporate analyst at Banco Real, a Brazilian subsidiary of ABN AMRO. Holsberg is responsible for both investment- and sub-investment-grade coverage of credits from throughout Latin America. He reports to Lanny Lim, global head of emerging markets credit research in Singapore.
* Paul Stamoulis has left TD Securities to join Scotia Capital as a director responsible for marketing credit, interest-rate and equity derivatives to U.S. corporate end users. He reports to Barry Delman, a managing director.
* Louis Nardi joined Harris Nesbitt as a managing director in the high-yield research group. Nardi, who was most recently at Fieldstone Capital, joins the bank's 30-strong high-yield team and will provide research on the energy, chemicals and utility sectors, as well as on special situation credits.