| LONDON, Sept 4
LONDON, Sept 4 Canadian bank Canaccord Financial
has hired former Lazard and Lehman Brothers
dealmaker Alexis de Rosnay to run its European unit, a business
it has been building up while bigger rivals have scaled back
their ambitions in the downturn.
De Rosnay, a healthcare industry specialist, is joining at a
tough time, with dealmaking in Europe drying up and equities
trading volumes slumping.
Canaccord, which bought British broker and advisory house
Collins Stewart Hawkpoint in March for 253.5 million pounds
($403 million), said on Tuesday de Rosnay will replace Mark
Brown as chief executive of Canaccord Genuity. Brown is leaving.
Many top players at the largest investment banks have tried
their hand at something different in recent years, as new
regulations bite, hampering big firms' lending ability for
instance, and as clients seek advice from new parties.
De Rosnay, who until a few months ago was joint head of
investment banking at Lazard, will lead the integration of
Collins Stewart Hawkpoint, and oversee the 650 staff Canaccord
now has in Europe - about a quarter of its global headcount.
He has spent much of his career at the bigger investment
banks - before joining Lazard from Lehman Brothers in 2008 at
the height of the financial crisis, he had worked at JPMorgan
After leaving Lazard, de Rosnay was briefly co-head of
global healthcare at Bank of America Merrill Lynch.
Shifting strategy at top firms and job cuts have led many to
leave the industry for pure advisory firms such as Moelis, with
others going to mid-sized players such as Baird.
On Monday, William Vereker stepped down as joint head of
investment banking at Nomura to become vice-chairman of
investment banking, a move colleagues said would lead to his