Pande, 55, will start Oct. 1 as head of a team including Gerald Lucas and two other researchers, he said today in a telephone interview. The group will be managing money for Brevan Howard U.S. Investment Management LP, which was set up in June, Pande said.
Citigroup now has six people working on finding troubled assets from other banks in Europe, including two people dedicated exclusively to this task, according to Simon Boughey, a London-based spokesman for the bank. The unit had one person a month ago, he said.
Lehr, who previously worked at Soros Fund Management LLC, left the Frankfurt-based bank last month with three “core investor professionals,” he said by telephone from New York yesterday. He declined to provide further details on the fund.
Former Royal Bank of Canada and Bank of America proprietary traders plan to start a mortgage-focused structured-credit hedge fund at New York-based TIG Advisors LLC after leaving Tandem Global Management.
Stuart Lippman, 40, formerly a managing director and senior portfolio manager in the non-agency mortgage credit business of Royal Bank of Canada’s proprietary-trading group, and David Liu, 43, who managed portfolios in the global proprietary-trading group at Bank of America, left Tandem in July, where they had sought to start a mortgage fund, Lippman said in a telephone interview. He declined to comment on the reason for the departure.
Schechter joined UBS last year from Barclays Plc where he was a managing director and structured-credit trader, according to data compiled by Bloomberg. Karina Byrne, a UBS spokeswoman, confirmed the departure and declined to comment further. Schechter declined to comment.
Tans will report to Darrell Uden and Chicco di Stasi, the co-heads of ECM in Europe, the Middle East and Africa. He will be responsible for Scandinavia, Benelux and financial institutions clients, as well as providing specialist coverage, according to the memo.
image: © Dan4th Nicholas