Bank of America Corp. said chief investment strategist Richard Bernstein and chief North America economist David Rosenberg are leaving Banc of America Securities-Merrill Lynch Research. Twenty-year Merrill veteran Bernstein (pictured) will leave on April 15 to pursue other opportunities, while nine-year ML veteran Rosenberg will leave on May 11. BofA is searching for replacements.
Returning to Toronto, Rosenberg is joining wealth management firm Gluskin Sheff + Associates Inc. as chief economist and strategist. He will report to deputy chief investment officer William Webb.
Separately, BofA's head of equity sales for the Americas, Brennan Warble, is retiring. Steve Tighe, director of North America equity research, will replace Warble.
Wall Street veterans Denis Bovin and Michael Urfirer launched Stone Key Partners LLC, an investment bank specializing in mergers and acquisitions and strategic advisory services. Bovin and Urfirer are co-chairmen and co-CEOs of Stone Key.
Bovin was previously vice chairman of investment banking and chairman of the global technology, media and telecom group at Bear Stearns Cos. Urfirer was a vice chairman of investment banking and the global head of strategic advisory banking at Bear.
Deutsche Bank AG added four executives to its management board, effective April 1: Michael Cohrs, head of global banking; global head of regional management Jürgen Fitschen; Anshu Jain, who heads global markets; and Rainer Neske,
the head of private and business clients.
All four are members of the bank's group executive committee, which remains in place and will have two new members: Werner Steinmüller, the head of global transaction banking, and regional CEO Americas Seth Waugh.
Bank analyst Glenn Schorr is leaving UBS. No reason was given for his departure. Schorr joined UBS as senior brokers and asset managers analyst in 2003. Before that, he was a financial services analyst at Deutsche Bank AG and Gruntal & Co.
Michael Carrier will assume lead coverage of Goldman, Sachs & Co. and Morgan Stanley.
Peter Vinella joined consulting firm LECG LLC to serve as worldwide head of its financial services sector. He is the former president and chief executive of Wilmington Trust Conduit Services. He has spent more than 25 years in finance in positions including senior trading and management roles at Smith Barney and Drexel Burnham Lambert Inc.
Interdealer-broker Tullett Prebon plc announced three management changes effective March 9. Marcus Bolton has been appointed CEO for the Americas, succeeding Lou Scotto who will serve as a consultant and senior adviser to the company. Paul Dunkley will take over for Bolton as managing director of volatility in London.
Riverside Co., a private equity firm focused on the low end
of the middle market, announced 12 promotions and four hires. Among its
investment professionals: Simon Feiglin, Joseph Lee and Trey Vincent were named principal; Scott Bogard, William Fogle, Marty Graul, Joseph Manning and Ashok Reddy were named senior associates. In fundraising and investor relations, Avi Turetsky was promoted to director and Monica Chase was made an analyst.
In Europe, Riverside promoted William Jaworski to associate and Damien Gaudin to analyst and made four hires: Pablo Fuente as assistant director of marketing and communications; senior associate Jeroen Lenssen, associate Nils Schander and analyst Sven-Hendrik Schulze.
Cleveland-based KeyCorp named Timothy Lathe executive vice president of Key's wealth management group. Lathe has spent much of his career with National City Corp., most recently as executive vice president and head of its private client group. He was also chairman of NatCity Investments Inc.
Silver Lake said Didier Bench has been named an adviser to its middle-market investment fund Silver Lake Sumeru. Based in London, Bench is the former chief executive of Cartesis and iMediation.
Howard Dean has joined McKenna Long & Aldridge LLP as an independent consultant for the firm's government affairs practice.
Dean is the former chairman of the Democratic National Committee and was Vermont governor for 12 years.