David Gavoor, a director of syndicated finance at Credit Suisse First Boston, left the firm last week as a result of its merger with Donaldson, Lufkin & Jenrette. Gavoor, who structured and sold real estate bank loans and other loans, said he declined an offer to handle all real estate syndications for the combined entity because of its narrow scope. He said he is now is in talks with other firms. Ironically, just last year he left the DLJ syndication desk to launch the CSFB real estate syndications desk (REFI, 6/21/99).
CSFB will not be hiring a replacement for Gavoor because of a freeze on new hires, said Bruce Ling, managing director of syndicated finance, who also will head all syndicated finance for the combined group. The combined loan syndication group is expected to consist of nine corporate sales professionals, Gavoor said, noting that this creates some overlap between the two groups, each of which is currently comprised of six. Ling declined to comment further.