Cantor Fitzgerald LP’s Shawn Matthews is stepping down as head of the firm’s broker-dealer unit and plans to start a hedge fund.
Bloomberg News reports that Matthews spent nine years atop the division, Cantor Fitzgerald, working to wrest talent and market share from larger investment banks that retrenched after the 2008 financial crisis. He’s launching a macro fund called Hondius Capital, looking to capitalize on a new era of market turmoil, Cantor Chief Executive Officer Howard Lutnick announced in an internal memo.
In the meantime, Reuters reports that Benjamin Frost, global co-head of consumer retail investment banking at Morgan Stanley, has departed the bank and is in talks to join Goldman Sachs, people familiar with the matter on Monday.
The U.S. firm hired 13-year Credit Suisse veteran Tucker Highfield as co-head of Asia Pacific equity capital markets, it said Tuesday in an internal memo obtained by Bloomberg. He will work alongside Shu Nagata, who was promoted to Asia Pacific co-head after leading Bank of America’s Japan ECM coverage.