Holmes joins Warburg
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.John Holmes, who left as head of Credit Lyonnais Laing's institutional sales on Monday, joined SG Warburg as head of UK equity sales yesterday.
The move is the first high-profile recruitment by Warburg since it lost the joint heads of equity capital markets to Morgan Grenfell last week.
Mr Holmes, 51, left Credit Lyonnais Laing after a furious row with Michael Kerr-Deneen, chief executive. Mr Holmes spent 19 years with Hoare Govett, and was head of Morgan Grenfell Securities when it was closed down in 1988.
He then joined Morgan Stanley for two years, before attempting to set up a brokerage boutique with Peter Quinnen, formerly of James Capel. When this failed to take off he joined Credit Lyonnais Laing.
A spokesman for Warburg said yesterday: "We think he's an excellent UK equity salesman and a proven team builder."
The current head of UK equity sales, George Pilkington, will stay as part of the team.
The spokesman refused to speculate on the level of bonuses Warburg will be paying this year, despite the bank's profit warning on Monday. Warburg's 5,000-odd staff will be notified of their March-year-end bonuses in April, and will be paid in July.
Following recent excitement, including the departure of Lord Cairns as chief executive and eight other employees, the spokesman observed: "No one has left today."
It emerged yesterday that the driving force behind Morgan Grenfell's hiring of Maurice Thompson and Michael Cohrs from Warburg was the urgent need to build a team for the imminent Deutsche Telekom flotation.
Morgan is the leading member of three global co-ordinators of the float, one of Europe's biggest privatisations. Mr Thompson and Mr Cohrs will be responsible for primary international equities at the combined Morgan Grenfell/ Deutsche Bank investment bank, and will report to Guy Dawson, head of Morgan's corporate finance division.
Analysts see Morgan as being well placed to build a leading London equities house by hiring individuals and teams because there is so much movement by top securities people at the moment.
Nomura, the Japanese securities giant, sacked 16 equities people a fortnight ago.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments