Top firms facing brain drain

Leaving 'in droves'.

They are the ideas men, pitching strategies to colleagues on London trading desks at banks from Citigroup to Morgan Stanley. Now they’re leaving in droves to join investment firms.

Bloomberg News reports that at least 15 credit analysts have left lenders including Credit Suisse and Deutsche Bank in the past 17 months, according to people familiar with the departures, who asked not to be identified because the information is private. Fund managers Apollo Global Management, BlueMountain Capital Management and CQS are among their new employers.

'There’s a lot of frustration on the sell side', said Brett Chappell, Copenhagen-based head of fixed income trading at Nordea Investment Management, which oversees $197 billion. 'Experienced and intelligent people who develop great trade ideas are not even sure if their traders can take on a new position in size, or if their bank would be willing to utilize its balance sheet'.

Hit the link below to access the complete Bloomberg News article:

Bond Dealers Face Brain Drain in London as Analysts Go to Funds

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