for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

UPDATE 1-Deutsche analyst Mayo goes to Calyon

* Mayo, others join CLSA’s Calyon to cover U.S. bank stocks

* Asia-focused CLSA expands in U.S. as Wall St firms retreat

* Mayo to be replaced at Deutsche by UBS’s Schorr - WSJ (Recasts, adds Hong Kong dateline, details, background)

HONG KONG/NEW YORK, March 25 (Reuters) - Independent brokerage and investment group CLSA Asia-Pacific Markets said its U.S. broker affiliate has hired a team of analysts, including a veteran banking analyst from Deutsche Bank DBKGn.DE.

The hiring shows that Asia-focused CLSA, a fraction of the size of major Western banks and brokerages, is expanding in the United States while Wall Street is shrinking head count and bonuses.

Hong Kong-based CLSA, founded by two journalists in 1986, said its affiliate Calyon Securities Inc hired Deutsche analyst Mike Mayo and a team of analysts and associates who will initiate coverage of 30 to 40 U.S. financial stocks.

Mayo will join Calyon Securities in mid-April after two years at Deutsche Bank. He began his career at the US Federal Reserve in 1988 and over the past two decades has worked for UBS, Lehman, Credit Suisse and Prudential, according to a CLSA release.

The Wall Street Journal reported that Mayo will be replaced by UBS's UBSN.VX Glenn Schorr.

CLSA, a subsidiary of Credit Agricole SA CAGR.PA, has 1,350 professionals in 15 Asian cities, and Dubai, London, New York.

The brokerage and investment group is not without its own financial concerns, having recently cut stuff in Asia after previously asking executives to take voluntary pay cuts. (Additional reporting by Elinor Comlay; Editing by Lincoln Feast)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up