Pine River Capital Management, the $15.5bn hedge fund firm, hired former Deutsche Bank credit trader Joshua Wilkes to expand its municipal debt business, according to a person with knowledge of the matter.
Bloomberg News reports that Wilkes was co-head of investment-grade credit and head of municipal trading before he left the bank in January. He started as a money manager in a new position at Pine River’s New York office on August 17, said the person, who asked not to be named because the information is private.
In the meantime, Bloomberg also reports that Wells Fargo hired UBS's Michael Schumacher as head of rates strategy, a newly created position.
The bank also added Jim Birchenough, a biotechnology analyst, and Ike Boruchow, a specialty retail analyst, Wells Fargo said Monday in a statement. All three will join as managing directors, the bank said.