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December 20, 2010 11:39 pm
Matrix Group has picked up 14 former Piper Jaffray staff as the private financial services specialist seeks to take advantage of the US group’s decision mostly to withdraw from Europe to bulk up its investment banking team.
A person familiar with the company said that the team included David Wilson, former chief executive of Piper Jaffray’s European arm, Bede Bruce-Lockhart, former managing director in European equity sales, and Jonathan Gosling, former head of corporate broking.
Piper Jaffray said in October it would significantly cut headcount in its European arm as part of a restructuring.
The Minneapolis-based investment bank expects to withdraw from the origination and distribution of European securities by the end of the year.
Malcolm Le May, chief executive of Matrix’ investment banking division, said: “People with stamina are taking up opportunities as they arise to pick up quality teams.
“The team from Piper Jaffray had a strong existing franchise, and wanted to move quickly.”
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