Bank of America has hired analyst Paul Shea from Deutsche Bank to join an equities sales team catering to hedge funds and other institutional clients, said two people with knowledge of the move.
Bloomberg reports that Shea will join the Charlotte, North Carolina-based firm as a director on its event-driven desk, which involves securities linked to mergers and other corporate actions, said the people, who asked not to be identified because the move isn’t public. Shea was at Frankfurt-based Deutsche Bank for three years, most recently as a special-situations desk analyst, and previously worked at UBS and JPMorgan, the people said.
In the meantime, Reuters reports that Wells Fargo said on Friday it hired 24 veteran advisers over the past three months from rival brokerages, expanding the company's private client group across the country.
The brokers, who in total managed more than $2bn in client assets at their old firms, came from the U.S. brokerages of Morgan Stanley, Bank of America, UBS, Royal Bank of Canada, Stifel Financial Corp and Wedbush Morgan.
The news agency also reports that NYSE Euronext hired former Homeland Security Secretary Michael Chertoff to make sure sensitive exchange data was not breached after U.S. securities regulators left their computers unencrypted, according to a person familiar with the matter.
The computers, iPads, and other Apple devices belonged to employees in an office within the Securities and Exchange Commission's Trading and Markets Division that is responsible for making sure exchanges protect themselves from cyber threats.
The company took the action after its highest-profile NYSE trader, Kenneth Polcari, resigned to pursue other interests last month, said one of the people, who asked not to be identified because the decision hasn’t been made public.