Bank of America has hired two debt capital markets bankers from Credit Suisse Group, as the firm reorganizes its Asian bond and loan arranging unit.
Bloomberg reports that Devesh Ashra will join as head of Asia debt capital markets syndicate, according to an internal memo confirmed by Mark Tsang, a spokesman for the Charlotte, North Carolina-based bank.
Ashra left Credit Suisse in Hong Kong last week, a person familiar with the matter said. Hital Desai will also move over from the Swiss bank as part of the bond syndicate team, while three current Bank of America employees were given new roles, the memo stated.
And Goldman Sachs' metals trader David Freeland has left the U.S. investment bank just over a year after being hired to build its physical copper book in London, market sources said.
Reuters reports that his departure is the strongest sign yet that the bank is struggling to expand into the capital-intensive and high-risk business perfected by commodity merchants Glencore and Trafigura.
The news agency also reports that Goldman Sachs has appointed Steven Barg to a newly created role in New York, moving the veteran Asia equity capital markets banker to the firm's headquarters less than six months after he took on a senior role in Singapore.
Barg's title will be head of M&A capital markets, a role that will involve advising the firm's clients on the equity market implications of their merger and acquisitions activities, according to a memo obtained by Reuters.
In the meantime, MarketWatch reports that Mizuho Financial Group has hired four Latin American fixed-income executives, three from UBS, in an effort to boost its operations in the region.
Mizuho Securities USA, the U.S. based unit of the Japanese commercial bank, hired Allan Grauer as head of Latin American trading and Sebastian Azumendi as head of Latin American credit trading. The firm also hired Rod Eichler and Nestor Cybriwsky to lead Latin American sales.
And Bloomberg reports that Old Mutual Plc, Africa’s biggest insurer, said Schroders' Richard Buxton will join as head of U.K. equities.
Buxton, who held the same post at Schroders, will report to Julian Ide, chief executive officer of Old Mutual Global Investors, the London-based insurer said in a statement Friday. He and his colleague Errol Francis will both leave Schroders, the U.K.’s biggest publicly traded money manager, on June 14.
Reuters reports that Standard Chartered Plc has hired Nomura's head of mergers and acquisitions for Southeast Asia, Jason Morris, to join its regional M&A team as a managing director, two sources with direct knowledge of the matter said.
De Ville will focus on U.K. prime residential mortgage-backed securities and European consumer and sterling fixed-rate asset-backed securities.
Finally, The Financial Times reports that two emerging markets traders formerly from Man Group have begun raising money for a new venture, APQ Partners, in what is likely to be one of the largest European hedge fund launches of 2013.
Bart Turtelboom and Karim Abdel-Motaal left Man division GLG, where they were co-heads of emerging markets, at the end of January.
Ex-GLG pair to launch EM-focused fund (subscriber content)