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— Movers and Shakers —
Sutton, who joined Wachovia in 1978, was executive vice president and head of retail and small business banking. Witter was an executive vice president and head of distribution for the general bank. Sutton will join Morgan's management committee and report to co-president James Gorman. Separately, Morgan Stanley, which converted into a bank holding company in September, announced plans to cut about 10% of its global staff, mostly from its institutional securities and asset management divisions. The bank employs more than 40,000 workers. The new cuts are in addition to the roughly 4,500 pink slips handed out since mid-2007.
In New York, Deutsche Bank AG enlisted Mike Gelhard as a managing director and global co-head of emerging markets corporate credit and special situations alongside Tim Zundel. Both report to Sean Bates, managing director and global head of emerging markets credit trading. Gelhard arrives from UBS, where he was head of high yield and distressed credit trading for Latin America and Asia. BNY Mellon Wealth Management tapped Elizabeth Engel as head of private bank lending, a new role. Based in New York, she reports to Bill Sappington, executive director of national banking. Engel was a managing director and head of U.S. lending for Deutsche Bank AG's private wealth management group. Before that, she was head of financial sponsors lending at J.P. Morgan Private Bank. UBS confirmed that Raoul Weil, chairman and chief executive of UBS Global Wealth Management and Business Banking and a member of the group executive board, will step down to defend against charges he was helping wealthy American clients avoid taxes. Weil was previously head of UBS Wealth Management International from 2002 to 2007. On an interim basis, Marten Hoekstra, now deputy CEO of Global Wealth Management & Business Banking and head of wealth management in the U.S., will assume Weil's duties. Independent European midmarket private equity firm Duke Street Capital brought in Miles Cresswell-Turner as a partner, specializing in financial services. Before spending a decade as a partner with Palamon Capital Partners, Cresswell-Turner spent seven years at HSBC plc's investment management group. He began his career in 1984 with Bankers Trust Co., where he focused on management buyouts. FBR Capital Markets Corp. hired Trey Whipple as a managing director on its convertible securities team. FBR also promoted Alexander Rygiel to co-head of diversified industrials in equity research and made Jordan Fialkoff and Brian Stauffer managing directors in equity trading. Whipple is a 12-year veteran of Morgan Stanley, where he was a former head of U.S. convertible securities sales. Pan-European private equity firm Stirling Square Capital Partners tapped Christopher Black as head of finance. He joins from UBS, where he specialized in the financial control and administration of private equity funds and investments. Rosemont, Ill.-based investment bank J.H. Chapman Group LLC took on Miles Greer as a principal. Earlier, Greer was executive director, corporate development and assistant treasurer for Sara Lee Corp. in Chicago. Reed Smith LLP added a 14-member group from Thelen LLP, headed by renewable energy lawyer Ellen Bastier. Joining in the San Francisco office are: Partners Edward Rogan, Paul Lacourciere, Donald Ousterhout and David Biesemeyer; counsel, James Lee; and associates Michael Eden, Ashlee Bonds, Ann Elling, Kurshid Khoja and James Hazlehurst. Partners Robert Vilter and Eli Mattioli arrive in New York, while Elizabeth Quirk joins as counsel in Princeton, N.J. Philip Watkins joined Hogan & Hartson LLP's London office as a partner in the corporate group, focusing on private and public corporate law, domestic and cross-border mergers and acquisitions and private equity. He had been with Latham & Watkins LLP. Loeb & Loeb LLP said Ieuan Jolly will join its advanced media and technology department as senior counsel. He will also work with the firm's technology and outsourcing and emerging media practice groups. He comes from the New York office of Thelen LLP, where he was an associate. King & Spalding LLP announced that trial lawyer Elizabeth Tanis joined the firm as a partner in its business litigation practice in Atlanta. Tanis joins King & Spalding from Sutherland Asbill & Brennan LLP, where she was a partner and head of its professional responsibility practice. |
Morgan Stanley hired two senior bankers from Wachovia Corp. to lead its new retail banking group. Cece Sutton becomes president of the group, while Jonathan Witter becomes the chief operating officer, reporting to Sutton.
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