Private Equity – Salomon Smith Barney on recruitment drive

Salomon Smith Barney (SSB) has announced a raft of appointments representing a significant expansion of its international private equity operations as part of a drive to establish itself as the leading private equity operator in the US investment banking community.

John Barber moves from SSB’s Public Equity Capital Markets Group to become deputy head of the Financial Entrepreneurs Group, SSB’s venture and LBO arm, reporting to Michael Klein.

Klein is also global head of the SSB Private Equity Fund Group, which has added four members of Deutsche Alex.Brown’s private equity team. SSB appointed Loren Boston as managing director of the Private Equity Fund Group. Neil Banta returns to SSB as a director and will be responsible for marketing to US institutional investors. Vice president Tina Courpas will work on placing funds worldwide, while Carolyn Choi joins the private equity team as a financial analyst.

Two further executives have moved from other SSB divisions to augment the Private Equity Funds Group. Michelle Morris, formerly with the bank’s Alternative Investment Group, assumes the role of vice president responsible for marketing and distribution. Sanford Rosenberg, who previously advised on LBOs within the Financial Entrepreneurs Group, becomes an associate within the fund group and will be responsible for origination and execution.

These appointments to the fund group have greatly strengthened SSB’s capacity to handle fund raisings and private placements globally.

Further additions and refinements to SSB’s venture capital and private equity business are in prospect following the establishment of consultancy agreements with Josh Lerner and Paul Gompers of Harvard Business School, both of whom are leading figures in academic research into venture and private equity investment. Michael Klein says that SSB will work with Lerner and Gompers to build a more sophisticated and thoughtful approach to analysing and evaluating private equity deals and funds’.