Kaisa Arovaara is stepping down as chief financial officer of CapMan, effective January 31, 2010. she joined the firm in 2006, and will be replaced on an interim basis by senior partner Olli Liitola.

Steven Axel has joined private equity firm Southfield Capital Advisors as head of a new mezzanine fund, which is expected to be licensed as an SBIC and begin investing next year. He previously was a managing director with Calvert Street Capital Partners.

Luke Belcastro and Peggy Marshall have joined Jefferies as New York-based managing directors in the firm’s fund placement group. They previously were with Mallory Capital Group as a partner and principal, respectively. Jefferies also has hired Joseph Nagae as a London-based senior vice president. He previously was a director in Citigroup’s fund placement unit.

Allen Bouch and Scott Norby have joined UBS Investment Bank as managing directors within the firm’s financial sponsors group. Bouch will be based in San Francisco, and previously was with Citigroup. Norby will be based in New York, and previously was with Goldman Sachs.

Max Burger-Calderon has retired as chairman of Apax Partners’s Asia operations, according to Dow Jones. He will now serve as part-time non-executive chairman, and will not be succeeded in his fulltime role. Dow Jones also reports that Michael Prahl has left Apax, where he focused on retail and consumer investing out of the firm’s Hong Kong office.

Sean Carroll has joined executive search firm Polachi & Co. as a Stamford, Conn.-based partner, with a focus on C-level tech executives. He previously was a managing partner with the Barlow Group, and before that was with both Pequot Capital’s venture capital unit and Heidrick & Struggles.

Peter Comb has stepped down as head of Permira Debt Managers, a business formed in early 2007 by Permira Advisors, according to Dow Jones. Prior to joining Permira, Comb had been with Lehman Brothers as chairman of leveraged finance and co-head of financial sponsors. No word yet on his future plans.

Catherine Lewis La Torre has been named a partner with Fondinvest Capital, a French fund-of -funds manager. She previously was a founding partner of Proventure, a fund-of-funds manager focused on the European middle markets.

Donald Layden, former general counsel of Metavante Corp. and president of Metavante International Group, has joined Warburg Pincus as an advisor.

BMO Capital Markets has named Dirk Leasure as head of the firm’s financial sponsors group. He joined the firm in 2002, before which he worked in the financial sponsors group of Goldman Sachs.

Kirtland Capital Partners has named Tom Littman president and senior partner. John Nestor will become chairman, while maintaining his roles as CEO and senior managing partner. Littman joined Kirtland in 1995, while Nestor joined in 1986.

David Martland has been named head of Nixon Peabody LLP’s M&A and private company transactions practice. He joined Nixon Peabody in 2003, and succeeds Philip Taub, who was named chair of the business and finance department.

Franklin Myers has joined Paine & Partners as an operating advisor, with a focus on energy investment opportunities. He is a former advisor and senior executive with Cameron International Corp.

Henry Ong and Jasson Han have joined the Hong Kong office of law firm Weil, Gotshal & Manges LLP as a partner and partner-level senior consultant, respectively. They previously were with Simmons & Simmons.

Louis de Saint-Marcq has joined placement agent Capstone Partners as an associate partner in the firm’s European office. He previously was in the London office of Goldman Sachs as an executive director of equities.

Lee Scott, former president and CEO of Wal-Mart, has joined Solamere Capital as an operating partner and member of the firm’s investment committee. He had joined Wal-Mart in 1979 as an assistant director in the company’s logistics division, and served as president and CEO for nine years until leaving this past February.

Hal Strong, former vice chairman of Russell Investments, has joined Genstar Capital as an operating executive. He will focus on the asset management and financial services sectors.

Permira announced several changes to its Paris office: Benoit Vauchy will be promoted to head of the office, following Philippe Robert‘s retirement at year-end. Jean-Marc Espalioux, chairman and CEO of chairman and CEO of Financière Agache Private Equity, will join as a senior advisor and Simon Marc, formerly of Candover and Apax Partners, will join as a principal.

Mark Wesseldine has joined the London office of law firm Fried Frank, as a partner focused on leveraged finance transactions. He previously was a partner with Allen & Overy.

Bo Yaghmaie has joined the New York office of law firm Cooley Godward Kronish LLP as head of the office’s business and technology practice group. He previously headed the national venture capital practice for Pillsbury Winthrop Shaw Pittman.