Credit Suisse First Boston has hired Jerry Wood, managing director in fixed income and 20-year veteran of Morgan Stanley in New York, to work in a senior position in the firm's bond division, according to BW sister publication Derivatives Week. Officials familiar with the situation noted that Wood is close to CSFB's CEO, John Mack, having worked with him at Morgan Stanley, arguing that the hire reflects Mack's continuing effort to fill senior positions with loyal lieutenants. Wood didn't return calls. Mack's secretary referred calls to Cristina von Bargen, spokeswoman, who declined comment.
It was unclear at press time how Wood's hire will effect CSFB's fixed-income management, or even what his specific role would be. Wood and Jim Healy, executive board member and global head of the emerging markets group, are favorites to co-head the fixed-income division, according to one CSFB watcher. A diminished role for Jack DiMaio, head of fixed income for North America, is also thought to be a likely consequence of a shake up in fixed income, according to recruiters, noting that Wood's hire means there are too many chiefs in fixed income. DiMaio did not return calls.
Officials at Morgan Stanley referred calls to Judy Hitchen, a spokeswoman in New York, who declined comment.