Bloomberg reports that Paul, 69, served as a vice chairman for Credit Suisse for the past 13 years and has known Anderson, 53, for almost three decades, said the person, asking not to be identified because the information is private. Anderson’s fund, New York-based Anderson Global Macro, is scheduled to start trading this year and will chase macroeconomic trends by wagering on bonds, currencies, commodities and stocks, the person said.
In the meantime, Morgan Stanley’s Jeanmarie McFadden, the global head of corporate affairs, is retiring from the Wall Street firm.
McFadden’s duties included overseeing media relations, marketing and community affairs, according to an internal memo from Chief Executive Officer James Gorman and obtained by Bloomberg News. Wesley McDade, deputy head of corporate affairs at the New York-based bank, will become acting chief.
Shalett, one of the highest-ranking women at Merrill, was recruited to the Bank of America-owned brokerage giant in mid-2010 by Sallie Krawcheck, then head of global wealth management. Krawcheck was forced to resign from her post last September after disagreements with Bank of America CEO Brian Moynihan.
Finally, the news agency reports that Knight Capital Group, which recently agreed to be bought for $1.4bn by Getco Holding Co, will lay off 5% of its global workforce as part of efforts to restructure the automated trading firm, according to a regulatory filing released on Monday.
Knight said it expects to incur a pretax charge between $9m and $11m in the first quarter as a result of combining its voice and electronic sales teams and winding down its correspondent clearing operations.
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