NEW YORK - Lehman Brothers said it has hired 10 banking and research professionals from Donaldson, Lufkin & Jenrette to expand its global industrial banking group.
Lehman's announcement came after a similar one by Deutsche Banc Alex. Brown, which said last Thursday that it had hired seven DLJ stock analysts.
Both sets of hirings came in the wake of Credit Suisse First Boston's deal for DLJ.
Mark A. Pytosh, the former head of DLJ's environmental service banking group and co-head of its automotive banking group, will be a managing director and co-head of the new team. Lehman also hired Thomas P. Ford to be a senior analyst covering companies in the environmental sector, a market segment in which Lehman has had little exposure.