Sunday, 22nd November 2009

 

Credit Suisse Hires Lehman Brothers Broker

Credit Suisse Group recruited Robert Perlman from Lehman Brothers Holdings Inc. as a managing director in its private banking USA unit.

A Credit Suisse spokesman confirmed that Perlman joined Credit Suisse’s New York office on Aug. 27. Perlman produced $8 million in commissions and fees and managed $800 million in prior assets, according to a person familiar with his production.

A Lehman Brothers spokesman confirmed Perlman's departure from the firm, but declined to comment on his production or prior asset figures.

Before joining Credit Suisse, Perlman worked at Lehman Brothers for 20 years, according to Financial Industry Regulatory Authority records.

Perlman's addition to the firm comes as the Credit Suisse unit has added 53 relationship managers year-to-date, for a total of 331 brokers, according to a company spokeswoman.

-By Brett Philbin, Dow Jones Newswires; 201-938-5393; brett.philbin@dowjones.com

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

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