Founder Roger Altman, chairman of Evercore Partners Inc. gave up his CEO role as the firm brought in BlackRock Inc. co-founder Ralph Schlosstein as president and chief executive. Altman will continue as chairman.
Prior to founding BlackRock in 1988, Schlosstein (pictured) was a managing director in both investment banking and capital markets at Lehman Brothers Holdings Inc. He joined Lehman in 1981 as an associate in investment banking and became a managing director in 1984. From 1977 to 1981, he worked for the Carter Administration. From 1974 to 1977, Schlosstein was an economist for the Congressional Joint Economic Committee. Altman also worked in the Carter administration was at Lehman Brothers in the early 1980s.
Stuart Hendel, global head of
Morgan Stanley's prime brokerage business since 2007, was replaced by Alex Ehrlich. Ehrlich joins from
UBS, where he was head of prime services for six years. Previously, he was co-head of global securities services at
Goldman, Sachs & Co.
Check The Deal Pipeline for updates on these Movers & shakers:
- Collins Stewart plc hired former Goldman, Sachs & Co. analyst William Tanona as a managing director and senior research analyst.
- Sterne, Agee & Leach Inc. said Michael Perry, Bob Toma, Nathan Strall and Andrew Stager joined its financial institutions i-banking group.
- Royal Bank of Scotland Group plc has completed its board restructuring, appointing Sandy Crombie as a nonexecutive director, as a partner.
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