Societe Generale has hired Randy Campbell to fill the hole in its sports advisory group caused by the departure of its 10-person team to Lehman Brothers.
Campbell, who joins from Morgan Stanley, started two weeks ago as a managing director and head of the sports group. He has responsibility for leveraged finance, merger and acquisitions, private placements and other services to the sports industry. He declined to comment on the move.
SG is said to be looking to fill the other gaps internally over the next six months. Bankers said that Campbell faces a challenge, as many of the SG clients may switch banks, as the personnel has changed. The SG group was involved in financing Daniel Snyder's acquisition of the Washington Redskins, the acquisition of the New Jersey Devils by the YankeeNets and the financial restructuring and debtor-in-possession financing of the Pittsburgh Penguins. Other clients include the Los Angeles Lakers and NASCAR teams.
In April, Lehman established a group to focus on advisory and financing services for major league sports franchises throughout North America, with the hiring of SG's team headed by Sal Galatioto, managing director.