Analyst Thomas Facciola has joined Lehman Brothers Inc. as a senior vice president of specialty financial services.
Mr. Facciola, 30, recently left Salomon Brothers Inc., where he was director of financial institutions coverage for three years.
He said he would continue to broaden his coverage of subprime, home equity, and auto finance companies and would continue to spread the word that "the subprime auto industry is one that carries a lot of risk."
Mr. Facciola had spent six years at S.G. Warburg as a non-bank financial analyst. He initially worked as a bank researcher, but changed to the nonbank sector because he "thought the growth would be better and opportunities more robust."
At Lehman, Mr. Facciola reports to Joseph Amato, managing director of U.S. research.