Bloomberg News
ABN Amro Holding NV, which is buying most of ING Groep NV's U.S. investment banking unit, has hired Brian Conroy from J.P. Morgan Chase & Co. to run its U.S. equities trading desk.
Carolyn Moses, ABN Amro's head of equities and investment banking for the Americas, said Mr. Conroy, who was the head of U.S.-listed trading at Morgan Chase, joined ABN Amro Wednesday and will eventually have a group of more than 100 traders in New York reporting to him.
In January the Dutch banking company announced it had agreed to buy most of ING's U.S investment banking unit for $275 million in an effort to expand in the world's largest securities market. The deal is expected to be completed in the next few months.
Mr. Conroy "will be forging the two trading groups into one, very quickly and very professionally," Ms. Moses said in an interview.
Mr. Conroy is one of several executives to leave Morgan Chase since it was formed in December, when Chase Manhattan Corp. bought J.P. Morgan & Co. for $33.5 billion.
Clayton Rose, chief operating officer of Morgan Chase's investment banking unit, said last month that he would resign. Joseph Walker, a co-head of its mergers/acquisition team, left to join General Motors Corp. as an adviser, and Edward Kelly, J.P. Morgan's top financial institutions investment banker, resigned to head Mercantile Bankshares of Baltimore.
