Former Donaldson, Lufkin & Jenrette Inc. banking analyst Thomas K. Brown is joining Tiger Management as a managing director.
Mr. Brown said he is starting on Monday and will focus on financial institutions for the giant hedge fund.
In joining Tiger Management, Mr. Brown will become a "buy-side" analyst, choosing stocks for his firm to purchase. He has spent prior years on the "sell side," where he made recommendations to clients of his employer, Donaldson Lufkin.
Before accepting the slot at Tiger Management, Mr. Brown interviewed with at least one prominent sell-side firm, or brokerage, going as far as meeting with the company's chairman.
Mr. Brown, who was named to Institutional Investor's "1997 All-America Research Team" in the regional banking category, left Donaldson Lufkin on March 27. The departure came just as the firm hired more than 20 investment bankers from Union Bank of Switzerland.
Tiger Management is headed by Julian Robertson and has about $16 billion under management. Last year the firm's stock selectors produced a 70% return for investors.