Richard Lindsey, Bear Stearns’ head of clearing services and prime brokerage, is moving on to try something new and will leave next month to work for a hedge fund, after an eight-year stint, said Bloomberg. The US prime broker merged Lindsey’s division with stock trading and structured equities in September as part of an effort to provide a unified approach in servicing hedge funds, a move that Lindsay said he had been planning for several years according to the agency.
The head of global stocks at Citadel Investment Group, a $12 billion Chicago-based hedge fund, has left the firm, according to the New York Times. Anand Parekh, a former head of the North American structuring group at Deutsche Bank, was one of seven business heads at the giant hedge fund, and was seen by some investors as a potential successor to Kenneth Griffin, the 38-year-old billionaire founder and chief executive of Citadel, reported the newspaper.
Jean-Yves Charlier is returning to fund management group Fidelity after completing a two and a half year secondment as chief executive at Colt Telecom. Under his watch he has accelerated the telecoms provider’s transition to a data and managed services company and last month saw a first quarter pre-tax profit. Rakesh Bhasin, also seconded from Fidelity, takes up the baton. Fidelity owns just under 65 per cent of Colt.
Rothschild has hired William Wells, a former co-head of European mergers and acquisitions at Bank of America, to boost its business in central and eastern Europe. He becomes co-head of M&A for the region, alongside Giovanni Salvetti, an insider who is moving up says Financial News.
Former Bridgewater chief Britt Harris is on the move to Teachers’ Retirement System of Texas, one of the biggest US pension funds, as chief investment officer, according to Financial News.