Lehman Hires Deutsche Tech Bankers
NEW YORK - Lehman Brothers Holdings Inc. hired a six-person team of technology investment bankers from Deutsche Banc Alex. Brown, raising the number of analysts and bankers dedicated to winning business from computer, software, and electronics companies to more than 100.Peter M. McGowan, a managing director with more than 12 years of experience at Alex. Brown, heads the team. Doug Bradley, a senior vice president, and vice president Joe Stone also were hired.
Lehman has also established a 15-person industrial technology investment banking group, hiring Lauri Cleveland from Merrill Lynch & Co. for the New York office and Kirk Fleischer from CIBC Oppenheimer & Co. to work with communications equipment companies.
Dresdner Dangles Carrot for Kleinwort Staff
FRANKFURT - Dresdner Bank AG, in an effort to keep employees at its Kleinwort Benson unit, told them it will pay at least as much in bonuses this year as in 1999 and may issue options linked to the investment bank's performance.The plan was outlined by incoming chief executive Bernd Fahrholz in a memo circulated Monday via e-mail to all Kleinwort Benson employees, according to two people who said they read it.
Mr. Fahrholz will succeed Bernhard Walter in May. Last week, after Deutsche Bank AG's $29 billion takeover of Dresdner fell apart, Mr. Walter said he would resign.
Dresdner's investment bank lost about 100 employees in the first quarter.Kevin Krespi, the former head of fixed incomesales, Guillaume Bonpun, who was in charge of bond syndication, and T.J. Lim, the former global head of fixed income, all left tojoin Merrill Lynch & Co. in the past two weeks. ``There's very little loyalty,'' said Mark Henwood, of Tilney Investment Management in London. ``People realize the bank will be sold and put themselves on the market when the merger was announced.'' - Bloomberg News
