Mac Bank hires Hogg
(3 February 2010 – Australia) The Australian investment bank, Macquarie Group, has continued to strengthen its position in the US by hiring Christopher Hogg as managing director.
Mr Hogg has joined Macquarie Group from the Bank of America Corporation, where he was co-head of the financial institutions capital markets group since 2008.
Other previous positions of Mr Hogg’s include a 22 year stint at Goldman Sachs where he worked as part of various capital markets and new product groups.
While at Goldman Sachs, Mr Hogg developed one of the 1990’s most popular financing tools called the monthly income preferred securities (Mips).
According to Bloomberg News, the market for Mips grew to more than US$50 million (A$56 million) in 1997.
A trend has been developing amongst corporate bankers according to Jeanne Branthover, managing director of Boyden Global Executive Search.
In a telephone interview with Bloomberg News, Ms Branthover said that they are seeing bankers employed at larger firms move to lesser known banks, specifically to be responsible to build the bank’s business.
Macquarie is absorbing this trend and has hired around 50 director-level executives in the past year.
According to Bloomberg News the bank is aiming to expand its US based advisory, capital markets and restructuring operations.
Other previous positions of Mr Hogg’s include a 22 year stint at Goldman Sachs where he worked as part of various capital markets and new product groups.
While at Goldman Sachs, Mr Hogg developed one of the 1990’s most popular financing tools called the monthly income preferred securities (Mips).
According to Bloomberg News, the market for Mips grew to more than US$50 million (A$56 million) in 1997.
A trend has been developing amongst corporate bankers according to Jeanne Branthover, managing director of Boyden Global Executive Search.
In a telephone interview with Bloomberg News, Ms Branthover said that they are seeing bankers employed at larger firms move to lesser known banks, specifically to be responsible to build the bank’s business.
Macquarie is absorbing this trend and has hired around 50 director-level executives in the past year.
According to Bloomberg News the bank is aiming to expand its US based advisory, capital markets and restructuring operations.
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