Wednesday, March 10,  9:43 pm

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Fred Joseph, a founder of investment bank Morgan Joseph & Co., died Nov. 27 in New York after a long battle with multiple myeloma. He was 72. Morgan Joseph CEO John Sorte made the announcement.

Joseph (pictured) was CEO of junk bond firm Drexel Burnham Lambert Inc. before its collapse in 1990. Sorte noted in his announcement that Joseph was instrumental in helping to establish today's worldwide high-yield bond market. Drexel's Michael Milken, who worked under Joseph, was also a key player.

Joseph began his Wall Street career in 1963 at E.F. Hutton in corporate finance, where John Shad trained him. Joseph joined Shearson Hammill's corporate finance department in 1970 and later became chief operating officer. He negotiated the acquisition of Shearson Hammill by Hayden Stone Inc. with former Citigroup Inc. chair and CEO Sanford Weill in 1974. Joseph then joined Drexel Burnham as co-manager of the firm's corporate finance department and became CEO in 1985.

After Drexel, Joseph was chairman of Clovebrook Capital from 1994 until May 1998, and was then a senior adviser and managing director at ING Barings LLC. Later, Joseph, along with a group of partners, acquired Morgan Lewis Githens & Ahn, renaming it Morgan Joseph & Co.

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Check The Deal Pipeline for updates on these Movers & shakers:

-- Fiona Paulus will join Société Générale SA as head of U.K. client coverage and investment banking.

-- Goldman, Sachs & Co. hired Kasper Christoffersen as a managing director and co-head of the European investment-grade syndicate group.

-- Citigroup Inc. named Michel De Carvalho chairman for its private banking business, EMEA.

Look for these and more in the full column (subscription required).






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