Research hiring at mid-sized and regional banks was mostly churn, as the mid-tier firms hired analysts from each other. Sterne Agee became a major poaching ground as its equity business was being sold to CRT Capital. Six Sterne Agee analysts were snapped up by competitors and CRT Capital also shed four analysts. CRT ended up hiring an experienced former director of research from Barclays to stem the flow.
Canaccord Genuity alumni were also in demand, as Canaccord has been downsizing its equities business. Four former Canaccord analysts were hired by competitors, while Canaccord added a REIT team and a healthcare analyst from Avondale Partners. There was also notable turnover at BMO Capital Markets, with three former analysts being hired by competitors.
Biotech analysts were in heavy demand, reflecting a preponderance of biotech IPOs in the US market.
SunTrust Robinson Humphrey was the most aggressive recruiter during 2015, adding 9 analysts including analysts from UBS, Jefferies, and Canaccord Genuity’s global head of research. Piper Jaffray added 8 financial institutions analysts. Cantor Fitzgerald continued its equity research buildout by hiring 7 analysts.
A review of 2015 mid-tier hiring follows. Note that the links to the articles are mainly premium articles requiring a subscription to ResearchWatch. Click here for a free trial.
AltaCorp Capital, a small Calgary-based investment bank, laid off 2 energy analysts as energy stocks languished. http://www.integrity-research.com/energy-boutique-lays-off-analysts/
BCS Financial Group, a Moscow based investment bank, hired a Chief Strategist and Deputy Head of Equity Research. http://www.integrity-research.com/russian-investment-bank-hires-new-strategist/
Berenberg, a Hamburg-based private bank, expanded its London equities team, including three equity research hires. http://www.integrity-research.com/berenberg-expanding-cash-equities/
BTIG, LLC, an agency broker turned investment bank, added a restaurant analyst from Telsey Advisory Group… http://www.integrity-research.com/btig-hires-restaurant-analyst-from-telsey/ …added a new healthcare analyst from CRT Capital Group http://www.integrity-research.com/btig-adds-healthcare-analyst/ …and hired a tech analyst from BMO Capital Markets. http://www.integrity-research.com/btig-adds-tech-analyst/
Canaccord Genuity, a Canadian investment bank, hired 5 specialist research, sales, and investment banking professionals from MLV & Co. (as MLV was being acquired by FBR) to beef up its global REIT offering. http://www.integrity-research.com/canaccord-adds-dedicated-us-reit-team/ The firm laid off three UK research analysts and one associate, reportedly because of MiFID II concerns even though Canaccord was downsizing its research operations over the last year. http://www.integrity-research.com/canaccord-lays-off-uk-analysts-purportedly-because-of-unbundling/ It also hired a healthcare analyst from Avondale Partners. http://www.integrity-research.com/canaccord-hires-healthcare-analyst/
Cantor Fitzgerald & Co., a NY investment bank, hired 2 consumer analysts from Canaccord Genuity… http://www.integrity-research.com/cantor-fitzgerald-hires-2-consumer-analysts-from-canaccord-genuity/ …raided Toronto-based investment bank Global Maxfin Capital for a technology analyst and two sales traders… http://www.integrity-research.com/cantor-fitzgerald-raids-small-canadian-investment-bank/ …hired an industrials analyst from Charles Stanley who will also serve as Director of Research for its European operations… http://www.integrity-research.com/cantor-adds-european-director-of-research/ …hired 3 equity research analysts, adding coverage of the energy sector… http://www.integrity-research.com/cantor-fitzgerald-continues-expansion-with-three-analyst-hires/ …and hired a London salesperson from Ambrian Partners. http://www.integrity-research.com/cantor-fitzgerald-hires-uk-equity-salesperson/
CLSA Americas, the North American division of Hong Kong based research and advisory firm CLSA, hired a media analyst from Sterne Agee (which was in the process of being absorbed by CRT)… http://www.integrity-research.com/clsa-americas-hires-media-entertainment-analyst/ …a fintech analyst from Sterne Agee… http://www.integrity-research.com/clsa-hires-us-fintech-analyst/ …and an energy analyst from Cowen. http://www.integrity-research.com/clsa-americas-adds-equity-research-trading-staff/
Cowen Group, a mid-sized NY investment bank, hired a restaurant analyst from Bank of America Merrill Lynch… http://www.integrity-research.com/cowen-hires-restaurant-analyst/ …an energy analyst from SunTrust Robinson Humphrey… http://www.integrity-research.com/cowen-group-hires-energy-analyst/ …a Credit Suisse FinTech analyst… http://www.integrity-research.com/cowen-hires-fintech-analyst/ …a biotech analyst from the buy side… http://www.integrity-research.com/cowen-adds-biotech-analyst/ …and CRT Capital’s former head of research sales, a former Merrill Lynch middle markets salesperson and a sales trader from RBC Capital Markets. http://www.integrity-research.com/cowen-adds-more-mid-market/
CRT Capital Group, a mid-market investment bank which acquired Sterne Agee’s equities business, hired Barclays’ former research head as its new director of research… http://www.integrity-research.com/crt-hires-former-barclays-research-head/…and a technology analyst from Cowen & Company. http://www.integrity-research.com/crt-hires-cowen-tech-analyst/
D.A. Davidson & Co., a small Montana-based investment bank, hired a Sidoti & Company analyst as a real estate analyst… http://www.integrity-research.com/davidson-hires-sidoti-analyst/ …and a Miller Tabak + Co. energy analyst. http://www.integrity-research.com/davidson-hires-energy-analyst-from-miller-tabak/
Detwiler Fenton & Co., a Boston-based investment bank, hired a research salesperson from Burke and Quick Partners. http://www.integrity-research.com/detwiler-fenton-adds-research-sales/
Drexel Hamilton, a NY-based mid-market investment bank, added a pair of semiconductor analysts from Ascendiant Capital… http://www.integrity-research.com/drexel-hamilton-hires-more-tech/ …and a tech analyst from Cantor Fitzgerald. http://www.integrity-research.com/drexel-hamilton-hires-tech-analyst/
equinet Bank AG, a Frankfurt-based regional bank focusing on German mid-cap and small-cap companies, added a technology analyst and an industrials analyst. http://www.integrity-research.com/german-regional-equinet-adds-analysts/
FBR & Co., a middle market investment bank which acquired MLV & Co during the year, hired a biotech analyst from Laidlaw & Company… http://www.integrity-research.com/fbr-hires-biotech-analyst/ …a biotech analyst from Brinson Patrick Securities… http://www.integrity-research.com/more-biotech-hiring-for-fbr/ …and a REIT analyst from Brean Capital. http://www.integrity-research.com/fbr-hires-reit-analyst/
FIG Partners, a banking boutique specializing in community banks, hired a financial services analyst from Drexel Hamilton. http://www.integrity-research.com/fig-partners-adds-another-bank-analyst/
Global Hunter Securities, a boutique investment bank focusing on natural resources, hired an institutional salesperson covering energy who was previously an energy portfolio manager at Nomura Securities… http://www.integrity-research.com/global-hunter-hires-energy-salesperson/ …an oilfield services analyst who was CFO for a fracking services supplier… http://www.integrity-research.com/global-hunter-hires-energy-analyst/ …and a specialty chemicals analyst from First Analysis Corporation. http://www.integrity-research.com/global-hunter-hires-chemicals-analyst/
Guggenheim Securities, the investment banking division of Guggenheim Partners, hired a Boston-based equity salesperson from Ned Davis Research… http://www.integrity-research.com/guggenheim-hires-salesperson-from-ned-davis-research/ …and hired two technology analysts and a consumer analyst. All three hires had previously worked for Guggenheim’s Director of Research John Hervey when he was the DOR for Lazard Capital Markets (LCM). http://www.integrity-research.com/guggenheim-adds-trio-of-former-lazard-capital-analysts/
H.C. Wainwright & Co., LLC, a New York-based investment bank, hired a biotech analyst from Stifel Financial… http://www.integrity-research.com/wainright-hires-biotech-analyst/ …a biotech analyst from Aegis Capital Corporation… http://www.integrity-research.com/wainwright-hires-yet-another-biotech-analyst/ …a biotech analyst from Roth Capital Partners… announcement. http://www.integrity-research.com/wainwright-hires-still-another-biotech-analyst/ …and a clean tech analyst from MLV & Co. http://www.integrity-research.com/wainwright-hires-clean-tech-analyst/
Janney Montgomery Scott, a regional investment bank, laid off 40 equity capital markets employees after the exit of its capital markets head… http://www.integrity-research.com/janney-exits-consumer-and-technology-sectors/ …then added three equity research analysts, covering infrastructure, REITs and MLPs…http://www.integrity-research.com/janney-rebuilds-equity-research-team/…hired a biotech analyst from Piper Jaffray… http://www.integrity-research.com/janney-hires-you-guessed-it-biotech/ …and hired a biotech analyst from Roth Capital Partners. http://www.integrity-research.com/janney-hires-anotheryou-guessed-it-biotech-analyst/
JMP Group, a San Francisco based investment bank, hired a healthcare analyst from Avondale Partners. http://www.integrity-research.com/jmp-hires-healthcare-analyst/
Minneapolis-based investment bank, Lake Street Capital Markets, hired an enterprise software analyst from Jefferies and an institutional salesperson from Three Part Advisors. http://www.integrity-research.com/lake-street-capital-hires-software-analyst-institutional-sales-professional/
Leerink Partners, a Boston-based healthcare investment bank and research boutique, hired an Associate Director of Research from Credit Suisse… http://www.integrity-research.com/leerink-names-new-associate-director-of-research/ …and a biotech analyst from Sanford Bernstein. http://www.integrity-research.com/leerink-hires-bernstein-biotech-analyst/
MainFirst Bank, a Frankfurt-based investment bank, announced it has hired three equity analysts, two in London and one in Frankfurt. http://www.integrity-research.com/mainfirst-expands-equity-research-staff/
Maxim Group LLC, a NY mid-market investment bank, hired a healthcare analyst, who was previously an investment banker at Aurora Capital… http://www.integrity-research.com/maxim-expands-healthcare-coverage/…a consumer analyst from Miller Tabak… http://www.integrity-research.com/maxim-adds-consumer-analyst/ …and lost a research manager to London-based CRM provider Singletrack Systems. http://www.integrity-research.com/maxim-group-loses-research-manager-to-software-firm/
Mirabaud Securities, a Geneva-based investment bank, hired two senior research managers from Espirito Santo in London. http://www.integrity-research.com/mirabaud-poaches-for-senior-espirito-santo-managers/
Mitsubishi UFJ Securities launched US stock coverage with four analysts. http://www.integrity-research.com/mitsubishi-ufj-launches-us-equity-research/
Mizuho Securities USA, the U.S. affiliate of the Japanese securities firm, hired two tech analysts, an analyst from CRT Capital covering internet stocks and an analyst from BMO Capital Markets covering interactive gaming… http://www.integrity-research.com/mizuho-securities-usa-hires-tech-analysts/…hired a semiconductor analyst from Sterne Agee… http://www.integrity-research.com/mizuho-securities-usa-hires-semiconductor-analyst/ …and a healthcare analyst from Cantor Fitzgerald covering pharmaceuticals. http://www.integrity-research.com/mizuho-hires-healthcare-analyst/
Odeon Capital lost 2 tech analysts who went independent. http://www.integrity-research.com/research-exodus-from-odeon-capital/
Piper Jaffray, a Minneapolis-based investment bank, added eight equity research analysts, three salespeople and a sales trader, all specializing in the financial institutions sector. http://www.integrity-research.com/piper-jaffray-hires-eight-financial-institutions-analysts/
Renaissance Capital, the frontier and emerging markets investment bank controlled by Russian billionaire Mikhail Prokhorov, hired an insurance analyst. http://www.integrity-research.com/renaissance-capital-strengthens-research-team/
B. Riley & Co. hired a consumer analyst from Robert W. Baird and a technology analyst from Sterne Agee. http://www.integrity-research.com/b-riley-hires-2-analysts/
R.W. Pressprich, a fixed-income broker/dealer, hired a desk analyst covering the high yield energy sector from RBC Capital Markets. http://www.integrity-research.com/r-w-pressprich-hires-desk-analyst/
Stifel Financial hired a biotech analyst from Canaccord Genuity… http://www.integrity-research.com/stifel-adds-yet-another-biotech-analyst/ …and a biotech analyst who previously had a strategy role at Pfizer. http://www.integrity-research.com/stifel-hires-still-another-biotech-analyst/
SunTrust Robinson Humphrey hired four healthcare analysts, including analysts from UBS and Jefferies… http://www.integrity-research.com/suntrust-hires-four-healthcare-analysts/ …and five more additions to its equity research team, including Canaccord Genuity’s global head of research. http://www.integrity-research.com/suntrust-poaches-cannacord-director-of-research/
Wells Fargo Securities hired three analysts: a biotech analyst from BMO Capital Markets, retail analyst from Sterne Agee and a strategist from UBS. http://www.integrity-research.com/wells-fargo-adds-three/
Wunderlich Securities, a retail-oriented brokerage firm headquartered in Memphis, hired a technology analyst from Sterne Agee. http://www.integrity-research.com/wunderlich-hires-sterne-agee-tech-analyst/