Bloomberg News reports that the move, announced in a memo to employees, marks the second shakeup of the division’s leadership in less than a year as the lender works to improve profitability and bolster its balance sheet. Fedorcik had been appointed in November to run debt capital markets as part of a new management team.
In the meantime, Bloomberg also reports that Jefferies, the investment bank owned by Leucadia National Corp., promoted Tom Brady to president of the company’s leveraged-finance venture with Massachusetts Mutual Life Insurance, replacing Carl Toriello.
Toriello will retire from Jefferies Finance at the end of this fiscal year on November 30 and continue to help the operation as a member of its credit committee, the company said Wednesday in a statement. Brady has been part of the leadership group at Jefferies Finance since it was established in 2004.
And Reuters reports that Grupo BTG Pactual has replaced Marcelo Hallack as managing director of private-equity investments, two people with knowledge of the decision said on Thursday, as Latin America's largest independent investment bank scales down proprietary investments to protect capital.
Hallack, a Stanford University graduate who joined BTG Pactual in 2008, will be replaced by Renato Mazzola, currently the head of proprietary infrastructure investing, said the people, who requested anonymity due to the sensitivity of the matter.
Finally, Reuters reports that Rothschild Global Advisory said it appointed Goldman Sachs investment banker Eric Hirschfield as a managing director and head of its newly opened Chicago office and of the Midwest region.
At Goldman, Hirschfield was a managing director and ran the global paper and packaging group and covered a variety of other clients across industries.