Recruitment: Fixed income plucked
The bid for plain-vanilla government/public sector debt professionals continues. BNP Paribas has plucked Heidi Crebo-Rediker from Bear Stearns to join its sovereigns, agencies and supranationals desk as a managing director. Crebo-Rediker reports to Chris Marks and is a long-overdue replacement for the vivacious Alex Corley Smith, who decamped to the New York office several months back. BNP Paribas also appointed product expert Jacques Delpla to work in its Paris office. Delpla worked most recently as an adviser in the French finance ministry but was previously also a fixed-income specialist at Barclays Capital in France.
Although these hires are not quite in the league of the audacious raid Bank of America made for Scott Lampard a couple of months back, they do illustrate the fact that this sector continues to be the bread and butter for any firm's fixed-income franchise.