Britain Hires Banker to Sell RBS and Lloyds Stakes

  

The New York Times, July 19, 2010

The British government hired an American investment banker on Monday to help it manage and sell its stakes in two of the country’s largest banks, Royal Bank of Scotland and Lloyds Banking Group, The New York Times’s Julia Werdigier reports.

Jim O’Neil, who is based in London, will join United Kingdom Financial Investments, or U.K.F.I., as head of market investments in October. He is currently head of corporate finance outside the Americas at Bank of America Merrill Lynch. He will report to Robin Budenberg, chief executive of U.K.F.I. and a former UBS banker.

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Goldman Sachs earnings slide on SEC pact cost

Steve Eder, Reuters, July 20, 2010

(Reuters) – Goldman Sachs Group Inc (GS.N) posted lower second-quarter earnings, hurt by its settlement of U.S. Securities and Exchange Commission fraud charges and the UK tax on bank executive bonuses.

Goldman, which resolved a major headache last week by paying $550 million to settle the SEC case, said earnings applicable to common shareholders fell to $453 million, or 78 cents a share.

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A.I.G. Chairman Resigns, Citing Clash With Chief

Mary Williams Walsh, and Michael J. de la Merced, The New York Times, July 14, 2010

The conflict between the American International Group’s chairman and its chief executive had been quietly building for months, and in recent days it became so palpable that many at the company were wondering which of the two men would survive the coming showdown.

On Wednesday, the victor emerged when Harvey Golub resigned as chairman, leaving Robert H. Benmosche, the chief executive, at the helm.

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Deutsche Bank Hires Senior Trading Executive

The New York Times, July 13, 2010

Deutsche Bank said on Tuesday that it has hired Jeffrey Mayer, a former senior trading executive at UBS and Bear Stearns, as its head of global markets for North America.

The hiring of Mr. Mayer, who will oversee the German bank’s sales and trading business in the region, is the first major appointment under Anshu Jain, the newly minted head of Deutsche Bank’s corporate and investment bank.

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Deutsche Bank Hires Senior Equities Executive

Julia Werdigier, The New York Times, July 14, 2010

LONDON — Deutsche Bank said Wednesday it hired Dixit Joshi as head of equities in Europe, the Middle East and Africa to help expand its cash equities and equity derivatives business.

Mr. Joshi will join Deutsche Bank from Barclays, where he held the same position, in October in London and report to Garth Ritchie, global head of equities. Mr. Joshi is widely credited for helping Barclays muscle into the European equities business over the last two years.

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Barclays Capital: To Split or Not to Split?

The New York Times, July 13, 2010

Should Barclays be thinking about spinning off its investment bank?

Following a report last week from an analyst at Mediobanca Securities, which said that the bank should evaluate separating its Barclays Capital in order to boost its share price, other analysts and industry observers have taken a closer look at the proposal.

The Mediobanca analyst, Christopher Wheeler, suggested that Barclays could lift its shares by as much as 39 percent through a spin off of its investment bank and wealth management unit, Bloomberg News reported at the time.

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Two Top Executives Leaving Morgan Stanley Unit

Jenny Strasburg, The Wall Street Journal, July 13, 2010

Two senior executives of Morgan Stanley's Morgan Stanley Investment Management are leaving, six months after Gregory Fleming joined the Wall Street firm to oversee and restructure the division.

Stuart Bohart and Stephen Trevor, the departing executives, were co-heads of the asset-management business until Mr. Fleming arrived in February. Both reported to Mr. Fleming, a former Merrill Lynch & Co. president and the first big hire by Morgan Stanley Chief Executive James Gorman. Mr. Gorman tapped Mr. Fleming before he formally took over the CEO job Jan. 1.

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STREET MOVES: Morgan Stanley Hires UBS, Schwab Advisers

Annie Gasparro, The Wall Street Journal, July 12, 2010

NEW YORK (Dow Jones)--Morgan Stanley Smith Barney has hired several financial
advisers from UBS AG (UBS) and Charles Schwab Corp. (SCHW).

Robert Seaman, Brian Lippert, Mark Morena and Kent Beal, who were on a
financial advisory team at UBS Wealth Management Americas, have moved to Morgan
Stanley Smith Barney's Canton, Ohio, office. The team brought in about $2
million in commissions and fees over the past 12 months and had roughly $300
million in assets under management at UBS. The team was at UBS for three and a
half years.

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Minatura International LLC Hires BNP Paribas to Advise on Financial and Strategic Matters

Tod Turley, Market Watch, July 6, 2010

HENDERSON, Nev. (BUSINESS WIRE) — Minatura International LLC (the "Company") is pleased to announce it has hired BNP Paribas, a leading global full service financial firm, to advise and assist the Company and its Board of Directors in evaluating a broad range of potential financial and strategic transactions to facilitate development of the Company's mineral concessions.

Paul Dias, Chief Executive Officer of the Company, stated, "Our Board and management are evaluating all strategic alternatives to maximize unit value for members as we continue to further our immediate exploration efforts in Colombia, notably on the Alacran, Anori, Remedios and Zaragoza Projects."

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MOVES-Credit Suisse, Barclays Capital, Religare

Megha Mandavia, Reuters, July 7, 2010

(Adds Bluefin Insurance, AHL)

(Reuters) – The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, send an email to moves@thomsonreuters.com.

CREDIT SUISSE (CSGN.VX)

The Swiss bank has appointed Justin Crane as a director and head of loan syndication for Asia-ex Japan.

Crane joins from Barclays Capital, the investment banking arm of Britain's Barclays Plc (BARC.L), where he headed the loan syndicate for the Asia Pacific region. [ID:nTOE666071]

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