Paul Tice, former co-head of high-grade research and energy analyst at Deutsche Bank, will return to Lehman Brothers, where he started his career. He will join the research group early next month, as a managing director to monitor the firm's non-public capital commitments, including its loan exposures, which have become an increasingly important part of the firm's business, says Jim Asselstine, the firm's global director of high-grade research.
Asselstine says there is no truth to buy-side speculation that Ted Izatt, the firm's current energy analyst, might be on the way out. "Paul's work will be totally separate from Ted's responsibilities. We're very happy with everything Ted's been doing on the public side and there will be no change in his responsibilities."
Tice and former co-head Mark Girolamo were dismissed from Deutsche Bank earlier this year (BW, 2/3, 2/17).
Tice started his credit research career at Lehman Brothers in 1989 and joined Deutsche Bank in 1997. He was ranked first on Institutional Investor's All-America Fixed-Income Research Team in the energy sector in 1998, a step up from second in 1997, and fourth last year.