Warburg Assembles Team By Hiring 12 from Lehman

NEW YORK - Warburg Dillon Read, a unit of the giant Swiss bank UBS AG, said Tuesday that it had hired a 12-person financial institutions investment banking team from Lehman Brothers.The Lehman defections began two weeks ago, when Simon K. Adamiyatt, the former co-head of Lehman's financial institutions mergers and advisory practice, joined Warburg as a managing director and head of the new group.

Since then, five senior and mid-level Lehman bankers have jumped to Warburg. They include William F. Wolff 3d, a managing director in Chicago specializing in multinational and super-regional banks; Gregory A. Smith, a Chicago-based managing director specializing in super-regional and regional banks; Norman F. Angus, an executive director specializing in Canadian financial institutions; and Steven R. Kykeman and Matthew Epstein, both directors.

Warburg said it also hired six junior professionals from Lehman for the financial institutions team.

The new team diversifies Warburg's financial institutions group, which has focused on insurance company transactions over the past few years.


Fleet Investment Banking Unit Hires Chief Financial Officer

SAN FRANCISCO - Robertson Stephens Inc., the investment banking unit of FleetBoston Financial Corp., said Tuesday that it had hired Dan Ryan to become its chief financial officer once its current CFO moves into an asset management role.Mr. Ryan, currently a New York-based senior partner in PricewaterhouseCoopers' global capital markets practice, will start his new position in May. He will replace Terry Otton, who will become chief operating officer of Robertson Stephens' high-net-worth asset management group. Mr. Otton will focus on business development in that new role.

- Compiled by Laura Mandaro

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