Bear Stearns has hired Ian Jaffe, a senior bank and finance analyst, from Morgan Keegan & Co. Earlier this year, Bear Stearns lost both John Otis, a senior bank analyst, and Ann Maysek, a senior financial institutions analyst, to Deutsche Bank (BW, 3/13). Doug Colandrea, who recently joined the firm from Morgan Stanley (BW, 5/26) and has taken over as investment-grade research chief, says Jaffe will cover at least commercial banks and brokerage firms. He is still determining whether to hire an additional analyst to cover finance companies, he says.
Prior to joining Morgan Keegan, Jaffe worked for four years at Fitch. He has also worked as a junk bond analyst at Oppenheimer & Co., and in credit risk management at both Salomon Smith Barney.
Dodd Williams, head of corporate bond strategy at Morgan Keegan, says the Memphis-based investment bank has not yet decided what steps it will take about a possible replacement for Jaffe.