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by Baz Hiralal
Ken deRegt will retire as head of fixed income at Morgan Stanley and be replaced by Michael Heaney and Robert Rooney. They will be global co-heads of fixed-income sales and trading. DeRegt will become a partner at Canarsie Capital Group, which will be a Morgan Stanley client.
DeRegt joined the firm's fixed-income division in 1981 and eventually ran it. After leaving the firm in 2000, he became head of the fixed-income, currencies and commodities businesses at Startingpoint Venture Partners LP. In 2003, DeRegt joined Aetos Capital LLC, where he was a managing director, senior adviser and a member of the executive committee. After the housing crisis, Morgan Stanley called on deRegt in 2008. He became chief risk officer and, in January 2011, was named global head of fixed-income sales and trading, excluding commodities.
Heaney is a managing director and global head of credit sales and trading, municipals and emerging markets credit. He joined the firm in 1986. Rooney joined Morgan Stanley structured finance business in 1990. He has been head of fixed-income sales and trading in Europe and global head of fixed-income client coverage since 2009.
JPMorgan Chase & Co. named Barry Sommers as CEO of the consumer bank at Chase, including Chase Wealth Management. Sommers was CEO of Chase Wealth since 2010. He will continue to report to Gordon Smith, CEO of consumer and community banking. Consumer banking has 5,600 branches, more than 75,000 employees and about $14 billion in revenue.
Sommers came to JPM through the Bear, Stearns & Co. acquisition, where he managed the brokerage business. He joined Bear Stearns in 1996 and previously worked at Goldman, Sachs & Co.
Ryan McInerney, who has managed the consumer bank since 2009, will join Visa Inc. as president. McInerney has been with JPMorgan for eight years. Prior to JPM, he was a principal at McKinsey & Co. in the firm's retail banking and payments practices.
Litigation partner Daniel Levison, who focuses on cross-border disputes, investigations and compliance, has relocated to Singapore after 12 years in Morrison & Foerster LLP's Tokyo office. He is also a member of firm's FCPA and anti-corruption task force. Levison previously spent time in the firm's New York office working on dispute resolution.
MoFo opened its Singapore office in January.
Finance lawyer Chaim Gottesman joined Kaye Scholer LLP in New York as counsel. Gottesman handles structured finance and the federal securities laws, with an emphasis on commercial mortgage securitization transactions. Prior to joining Kaye Scholer, Gottesman was a senior vice president and assistant general counsel at CW Financial Services LLC.
Baker & Hostetler LLP announced that J. David Bournazian joined the firm's litigation group as a partner in its Costa Mesa, Calif., office. He comes to the firm from Kutak Rock LLP. Bournazian covers business litigation, with an emphasis on employment, healthcare and real estate law.
Bournazian previously worked in the White House, Executive Office of the President in Washington under George H.W. Bush, overseeing NASA and Drug Enforcement Administration budgets and obtaining congressional approval for presidential programs. Bournazian was also general counsel for Frank Gehry's architectural firm Gehry Partners LLP. Prior to his law career, Bournazian worked in the environmental consulting and scientific development fields for private companies, undertaking projects for the federal government and the U.S. Department of the Navy.
Ulmer & Berne LLP added Stephen Nesbitt to the firm's Cincinnati office as counsel in the real estate practice. He represents real estate developers, investors, corporate clients, institutional lenders, banks and commercial landlords and tenants. Nesbitt was with Strauss Troy.
Michael Duffy rejoined Baker & McKenzie LLP's dispute resolution practice as a partner in Chicago. He has worked with manufacturers, private equity firms, auditors and oil and gas companies. Earlier in his career, Duffy was a summer associate and associate at Baker & McKenzie. Most recently, he was a partner at Kirkland & Ellis LLP.
Kramer Levin Naftalis & Frankel LLP named Howard T. Spilko as co-chair of the corporate practice alongside Thomas D. Balliett and Scott S. Rosenblum. They will lead the firm's 70-lawyer corporate group.
Stradling Yocca Carlson & Rauth PC hired Jeffrey A. Dinkin as a shareholder in Santa Barbara, Calif. Dinkin will continue to represent management in labor and employment law. He was a partner at Shepherd, Mullin, Richter and Hampton LLP.
John DeVine is now senior vice president of global operations at Yahoo! Inc. He was a principal at McKinsey & Co., which he joined in September 1999. DeVine, who has a masters in nuclear engineering, spent the previous 11 years in the U.S. Navy, becoming a Submarine Junior Officer.
Clippings from the next column:
-- Bank of America Merrill Lynch hires Tracy Caliendo as a managing director and head of Americas equity hedge fund services.
-- Morgan Stanley names Jerome Leleu and Mille Cheng as co-heads of equity capital markets, Asia Pacific.
-- Charles Steel joins Ares Private Equity Group as a managing director.
-- A.G. Lafley returns as CEO of Procter & Gamble Co., replacing Bob McDonald.
Ken deRegt will retire as head of fixed income at Morgan Stanley and be replaced by Michael Heaney and Robert Rooney.
