Lehman Brothers exodus

The Sept. 15 bankruptcy of Lehman Brothers Holdings Inc., subsequent sales of divisions to Barclays Capital and Nomura Holdings Inc. and a particularly heavy year for Wall Street layoffs across the board have resulted in many moves. What follows is The Deal's coverage of those involving Lehman dealmakers. Please note, dates correspond to publish dates, not necessarily the date of the job switch. 

Feb. 2: Nomura Securities International Inc. will collaborate on Brazil cross-border merger and acquisition advisory services with Orienta Investimentos e Consultoria Ltda. Orienta is a recently established company in Brazil, headed by Winston Fritsch, formerly head of investment banking at Lehman Brothers do Brasil Ltda.

Jan. 28: Jefferies International Ltd., the UK subsidiary of U.S.-based Jefferies Group Inc., expanded its global healthcare equities practice with seven research and sales professionals in London. Among them, Peter Welford, Philippa Gardner and Tara Shivarattan cover biotechnology, biopharmaceuticals and life sciences. Welford was a biotechnology analyst at Lehman Brothers Holdings Inc. Gardner and Shivarattan were equity research associates at Lehman.

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Meanwhile, Broker-dealer Broadpoint Capital Inc. grew its mortgage- and asset-backed security trading division, Broadpoint DESCAP, by launching a new repurchase desk and expanding its structured products group. In structured products, P. Read Burns Jr. arrives after 13 years with Lehman Brothers Holdings Inc., while Michael Petrucelli spent 15 years there. James Hurst was a director at Barclays Capital in Boston and was at Lehman for 13 years before that.

Jan. 22: Oak Hill Advisors LP said Christine Daley joined its investment team as a managing director to focus on opportunities in the stressed and distressed credit markets. Daley was formerly a managing director at Lehman Brothers Holdings Inc., where she co-managed the distressed debt and special situations proprietary desk, was head of distressed debt research and served as co-head of high yield research.

Jan. 16: Jefferies & Co. made three hires for its fixed income sales and trading platform. One hire is Beth Starr, who joins as a managing director in Stamford, Conn. At Lehman Brothers Holdings Inc. for the past 18 years, Starr was most recently a managing director in institutional sales. Jefferies has added more than 50 senior fixed income professionals in the past nine months.

Jan. 15: Effective Jan. 19, CIBC will split its investment, corporate and merchant banking unit into three entities: investment banking, direct lending and merchant banking. As part of this move, David Leith, deputy chairman and head of the old unit, will leave the bank after 25 years. David Geoff Belsher was hired as a managing director and global head of investment banking. Belsher was country head of Lehman Brothers Canada Inc.

Jan. 12: Barclays Capital appointed Tim Kitchen as a managing director and head of investment banking, Canada. He joined Barclays in September from Lehman Brothers Holdings Inc.

In December, New York managing director John Plaster was named co-head of alternative energy banking at Barclays Capital alongside Menlo Park, Calif.-based managing director Amy Smith. Plaster came to Barclays Capital as part of its acquisition of Lehman Brothers' North American investment banking and capital markets businesses. At the time, Lehman announced its leadership team for mergers and acquisitions in the Americas, Europe, the Middle East, Africa and Asia Pacific.

Separately, in Japan, Barclays hired 10 investment bankers. Among them: Takumi Tanaka is a managing director and head of the financial sponsors group, Japan. He previously held that title at Lehman Brothers Japan for four years. Rei Kyogoku is a director and head of the financial institutions group, Japan. He was at Lehman Brothers Japan as a senior vice president in the financial institutions group. Masaya Kubota, a director in the financial sponsors group, also worked a Lehman. In October, Barclays got about 100 bankers in Japan from its Lehman acquisition, launching its equity research and sales operations there.

Jan. 8: Bracewell & Giuliani LLP hired David Perlman for its Washington office as a partner in the energy practice. Most recently, Perlman was chief counsel to Lehman Brothers Holdings Inc.'s commodities business in New York.

Jan. 6: Eagle Rock Energy Partners LP appointed Jeffrey Wood as a senior vice president and chief financial officer. Wood worked at Lehman Brothers Holdings Inc. since 2001, most recently as a senior vice president and portfolio manager in its private equity division. Previously, he was a vice president in its investment banking division providing advisory and capital markets services with a focus on the energy sector and emphasis on midstream companies and MLPs.

Dec. 18: Legg Mason Inc. hired Peter Sundman as president and CEO of ClearBridge Advisors, one of its principal asset management subsidiaries, headquartered in New York. Sundman worked at Lehman brothers Holdings Inc.'s former asset management arm Neuberger Investment Management Inc., which he joined in 1988. He was most recently chairman and chief executive of Neuberger Funds.

Dec. 12: Former Lehman Brothers Holdings Inc. senior vice president Chad Fulgham joined the Federal Bureau of Investigation as its chief information officer. Fulgham worked in the information technology division at Lehman.

Meanwhile, John Dugenske will join UBS in January as head of fixed income for the U.S. and Canada. Before this, Dugenske was a managing director and head of European and Middle East fixed income at Lehman Brothers Holdings Inc.'s former investment management business, Neuberger Berman.

Dec. 10: Private equity firm AnaCap Financial Partners hired Chris Patrick as a principal and co-head of mergers and acquisitions. He was previously a managing director and head of principal finance for European structured products at Lehman Brothers Holdings Inc. Also formerly with Lehman, Andy Wynn was tapped as a director of business services, and Daniel Ang and Nassim Cherchali joined as analysts.

Dec. 8: Former Lehman dealmakers Isaacs, Nagioff start their own shop: Lehman Brothers Holdings Inc. executives Jeremy Isaacs and Roger Nagioff are starting their own firm JRJ Investments Ltd., according to Bloomberg. Isaacs is the former head of Lehman's European and Asian operations, while Nagioff was the head of Lehman's fixed-income division before leaving the investment bank in February. Both Isaacs and Nagioff were listed as JRJ's directors in a U.K. filing for the enterprise last month. -- George White

Dec. 4: Nomura Holdings Inc. completes its integration of Lehman Brothers Holdings Inc. assets and names execs. See the chart here.

Dec. 2: Sears Holding Corp. tapped Scott Freidheim as an executive vice president. He spent more than 17 years at Lehman Brothers Holdings Inc., most-recently as chief administrative officer and an EVP, overseeing the corporate division, according to a press release from the retailer.

Meanwhile, New York managing director John Plaster was named co-head of alternative energy banking at Barclays Capital alongside Menlo Park, Calif.-based managing director Amy Smith. Plaster came to Barclays Capital as part of its acquisition of Lehman Brother Holdings Inc.'s North American investment banking and capital markets businesses. He joined Lehman in 1996.

Further, BarCap announced its leadership team for mergers and acquisitions in the Americas, Europe, the Middle East, Africa and Asia Pacific.

Nov. 26: Lazard said Fabrizio Cesario and Frédéric Legmann will join the firm in January as managing directors in the financial institutions group in London. Both were members of Lehman Brothers Holdings Inc.'s financial institutions investment banking team.

Nov. 25: Amherst Securities Group LP, a broker-dealer specializing in residential mortgage-backed securities, hired Timothy Dooley as head of non-agency RMBS trading. Dooley previously worked at Lehman Brothers Holdings Inc. as a senior vice president of mortgage trading. he spent 11 years with Lehman.

Nov. 24: In mid-September, Bryan Marsal of Alvarez & Marsal joined Lehman Brothers Holdings Inc. as chief restructuring officer, overseeing Lehman's massive Chapter 11 process. He will become chief executive at year's end, replacing Richard S. Fuld Jr., one of the longest-running CEOs on Wall Street who took flack for running Lehman into the ground. Fuld joined Lehman in 1969. Lehman also received permission to hire 480 people to help with its wind-down and took on Weil, Gotshal & Manges LLP as bankruptcy counsel and Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts counsel.

Nov. 19: Last week, independent investment bank Evolution Securities Ltd. tapped Guy Cornelius, formerly a managing director of Lehman Brothers International, as head of fixed income. Prior to LBI, he spent 11 years at UBS, most recently as head of fixed income sales for Europe and the Middle East.

Nov. 17: Cairn Capital Ltd. enlisted Peter Hansell to run its new real estate fund. The Ibex Fund will invest in commercial mortgage debt. Hansell was a managing director in Lehman Brothers Holdings Inc.'s global real estate group. Prior to Lehman, he ran the Standard & Poor's commercial mortgage backed securities rating team in Europe and was a senior relationship manager specializing in commercial real estate related lending at Royal Bank of Scotland plc.

Nov. 12: Robert W. Baird & Co. hired Steve Holt as a director in its institutional equity sales group, based in London. He will manage buy-side equity clients. Holt most recently worked on the U.S. equity sales team at Lehman Brothers Holdings Inc. in London.

Nov. 10: Energy investment bank and institutional financial services firm Pritchard Capital Partners hired Owen Jones and John Joyce as senior vice presidents. Jones joins as a sales trader in Washington, and arrives from Lehman Brothers Holdings Inc.'s London office, where he was a director of equity trading.

J.P. Morgan Chase & Co. hired Masaru Shibata as head of mergers and acquisitions in Japan. He held the same title at Lehman Brothers Holdings Inc. Shibata, focusing on cross-border deals, will arrive on Nov. 17. Earlier, he spent 15 years at Goldman, Sachs & Co. in New York and Tokyo.

Nov. 6: Dick Fuld will step down as CEO at year's end, but stay on board as nonexecutive chairman, according to Reuters.

Meanwhile, Deutsche Bank AG hired Ari Makela as a managing director for Nordic coverage in global banking. Makela joins from Lehman Brothers Holdings Inc., where he was a managing director overseeing origination and execution of mergers and acquisitions, equity and corporate finance transactions in Nordic countries, focusing on Finland.

In San Francisco, Paul Inouye and John Varughese joined Perella Weinberg Partners as partners. Inouye was a managing director, responsible for the Internet practice at Lehman Brothers Holdings Inc. Varughese was a managing director in technology mergers and acquisitions at Lehman Brothers.

Nov. 5: In New York, Deutsche Bank Securities Inc. enlisted William Curley and Anthony Viscardi for its global banking division as managing directors in the financial institutions group, responsible for mortgage finance sector coverage. Curley joins from Lehman Brothers Holdings Inc., where he was a managing director and head of the firm's mortgage banking advisory practice. Viscardi was a managing director in FIG at Lehman, covering in the non-bank finance sector.

Other FIG specialists hired from Lehman include director Matthew Monahan, structured asset solutions; and vice president Peter Salwin, specialty and mortgage finance; vice president Daniel Zimbaldi, mortgage finance; and associate Brendan Sheldon, specialty and mortgage finance.

Separately, Peter Hornick joined DB Securities' institutional client group in the global markets division as a managing director and head of credit sales for North America. Hornick arrives after six years at Lehman Brothers, where he was most recently global head of the CDO group, overseeing trading, sales and research.

Meanwhile, Greenhill & Co. brought on three former Lehman Brothers Holdings Inc. bankers to open a Chicago office for the independent investment bank. Glenn Tilles, Doug Jackson and Chris Roehm join as managing directors.

In Hong Kong, Credit Suisse Group hired Neel Laungani as head of telecom and media for Asia-Pacific, a new role. Laungani spent the last five years as head of that group in Asia-Pacific, ex-Japan, for Lehman Brothers Holdings Inc.

And Nomura Holdings Inc. made Jai Rajpal and Thomas Siegmund joint heads of fixed income, Asia-Pacific, ex-Japan. Rajpal was head of fixed income, Singapore and South-East Asia, while Siegmund was head of liquid markets Asia-Pacific for Lehman Brothers Holdings Inc.

Nov. 4: Herbert "Bart" McDade III will leave Barclays Capital at the end of November. McDade, who was president of Lehman Brothers Holdings Inc., leaves less than two months after helping to integrate Lehman's U.S. capital markets business with BarCap after it was acquired out of bankruptcy protection in mid-September.

Meanwhile, UBS reportedly hired former Lehman Brothers Holdings Inc. banker Jeff Ren as an executive director for its China investment banking team. Ren covered corporate finance and mergers and acquisitions at Lehman.

RBC Capital Markets appointed Kevin Lewis as a managing director and head of the U.S. investment banking consumer/retail group. Based in New York, he reports to Peter de Vos, head of U.S. investment banking. Lewis joins RBC after 10 years with Lehman Brothers Holdings Inc., where he was a managing director in the firm's global consumer/retail group.

Nov. 3: Independent consultancy Redington Partners LLP appointed Jeremy Rosten as a senior consultant. Rosten will devise investment strategies for clients and advise on asset and liability management. Previously, he spent six years at Lehman Brothers Holdings Inc. as a member of the quantitative portfolio strategies group, where he was the chief European risk modeler for Lehman POINT, a risk modeling system.

Oct. 31: Nomura Holdings Inc. gave top investment banking spots to three former Lehman Brothers Holdings Inc. bankers. Christian Meissner and William Vereker became heads of investment banking for Europe, the Middle East and Africa. Glenn Schiffman will head Asia-Pacific investment banking, based in Hong Kong. Meissner and Vereker are supported by co-head of EMEA investment banking, Yoshiyuki Numano. Toshiyasu Iiyama will support Schiffman as co-head of Asia-Pacific investment banking.

Meanwhile, Evercore Partners Inc. hired Les Fabuss for its advisory business as a senior managing director. Fabuss comes to Evercore after a 25-year career at Lehman Brothers Holdings Inc., where he was most recently a vice chairman of global investment banking.

Barclays Capital hired 20 professionals formerly with Lehman Brothers Holdings Inc. in Israel. The group includes Leonard Rosen, who was named CEO of Israel, based in Tel Aviv. He held the same title at Lehman. All of the senior investment banking team and equity research team of the former Lehman Israel operation joined BarCap. The team, reports John Winter, head of investment banking, EMEA.

Rothschild Inc. named Antonio Villalon as co-head of its financial institutions group alongside Stefano Marsaglia. Villalon was vice chairman of Lehman Brothers Inc. Also from Lehman, Stephen Fox becomes co-head of FIG, U.K., and managing director Philippe Le Baquer, covering cross-border and continental European FIG deals.

Oct. 30: Credit Suisse Group hired Colin Welch as a managing director in London and head of its retail and luxury goods team in Europe, the Middle East and Africa. He will start in November and report to Jens Welter, head of the consumer and retail team for EMEA. Welch is a former Lehman Brothers Holdings Inc. banker. He was a managing director and head of retail investment banking for Europe and the Middle East there. Prior to joining Lehman in 2006, he worked in New York for J.P. Morgan Chase & Co., Banc of America Securities LLC and Montgomery Securities LLC.

Oct. 28: In a boost to its European advisory business, Lazard said it hired Alexis de Rosnay as a vice chairman of Lazard International and as a senior member of the firm's global financial advisory team, effective Nov. 12. De Rosnay, based in London, was most recently with Lehman Brothers Holdings Inc., where he was co-head of investment banking for Europe and the Middle East, and was global co-head of healthcare investment banking.

Oct. 27: Nomura starts combining with Lehman: Nomura Holdings Inc. named two former Lehman Brothers Holdings Inc. bankers as regional heads in its global equity operations in Europe and Asia, effective Nov. 1. Rachid Bouzouba will be head of equity in Europe, the Middle East and Africa, while Sigurbjorn Thorkelsson becomes head of equity in Asia Pacific, including Japan. Both will report to Hiromasa Yamazaki, head of global equity. (On Oct. 14, Nomura closed the $525 million acquisition of most parts of Lehman Brothers' Asia-Pacific franchise, including Hong Kong, Singapore, Australia, India, Thailand and Japan.

Oct. 23: Oak Hill Advisors LP said Goran Puljic, T.K. Narayan and Scott Snell joined the firm's structured products group to focus on investment opportunities in the credit markets. They joined from Lehman Brothers Inc., where they managed about $2 billion in structured credit assets, through both third party fund vehicles and proprietary capital within Lehman Brothers Private Equity.

Managing director Puljic and principal Serrano co-lead the structured products group. Snell is a vice president. Puljic was head of the structured credit investment Group at Lehman Brothers PE for six years and was a managing director at Goldman Sachs, where he worked for nine years.

Oct. 21: Barclays hires 100, mostly from Lehman Brothers Barclays plc's investment banking unit, Barclays Capital, hired 100 professionals, mostly from Lehman Brothers Holdings Inc., to launch an equity business in Japan. (Nomura was expected to lose nearly 100 of the 170 employees in Lehman's Japanese equity department, with most going to Barclays, Bloomberg reported, citing sources.)

Kazutoshi Ohkubo joins from Lehman as a managing director and head of equity sales in Japan. Managing director Koichiro Chiwata becomes head of equity research in Japan. Before Lehman, he spent 16 years at Nikko Citigroup Ltd. See a list of some of the other notable hires after the break.

Some of the top analysts include: Hidenao Miyajima, chief strategist; Fumiyuki Takahashi, quantitative strategy; Mikiya Yamada, chemicals; Masanori Maruo, utilities; Toshihide Yoda, pharmaceuticals; Junsuke Senoguchi, banking; Keiichi Yoneshima, Internet; and Mia Nagasaka, entertainment.

Oct. 15: Barclays weaves Lehman bankers into its senior ranks Barclays Capital announced -- internally -- its new corporate finance leadership team. Not surprisingly, most of them were top bankers at Lehman Brothers Holdings Inc.

On Oct. 14, Nomura Holdings Inc. closed the $525 million acquisition of most parts of Lehman Brothers' Asia-Pacific franchise including Hong Kong, Singapore, Australia, India, Thailand and Japan. In September, Barclays took on thousands of Lehman's North American bankers. (Fortune put the number of layoffs at the North American investment banking division at 3,000 on Oct. 10.)

Elsewhere, independent broker-dealer Louis Capital Markets appointed Edward Morse as a managing director, head of economic research. Morse worked at Lehman Brothers Holdings Inc., where he was a managing director and head of commodities research from 2006. Before Lehman, Morse spent seven years at Hess Energy Trading Co. LLC.

Oct. 13: Investment firm Millennium Management LLC hired Michael Gelband to manage its global fixed-income business. Gelband was global head of capital markets at Lehman Brothers Holdings Inc.

Gelband was with Lehman Brothers from 1983 to May 2007. He eventually became global head of fixed income and was a member of the executive committee. In June, he returned to Lehman to head the entire capital markets business as part of Lehman's effort to deal with its financial problems.

Gelband was to receive millions in bonus dollars in connection with Barclays plc's acquisition of Lehman's North American investment banking business. The bonus troubled regulators of the $700 billion U.S. bailout package.

WHERE YA OFF TO?

Where have all the Lehman Brothers bankers gone? On Sept. 20, U.S. Bankruptcy Judge James Peck approved British bank Barclays plc's $1.75 billion acquisition of Lehman's North American investment banking business and the iconic New York headquarters, saving 10,000 jobs. (Fortune put the number of layoffs at the investment banking division at 3,000 on Oct. 10.)

Hundreds of overseas bankers gave a tip of the cap to Tokyo's Nomura Holdings Inc., which picked up

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