Baader Bank Hires Equity Specialists From UniCredit's HVB Unit in Munich
Stock Chart for Baader Bank AG (BWB)
Baader Bank AG hired a team of 25 equity markets specialists, mainly from UniCredit SpA’s HVB Group unit, as the German securities trader seeks to expand in small and medium-sized company financing.
“This was a unique opportunity to grow our presence in equity sales, equity capital markets and equity research amid the current shakeup of the financial industry,” management board member Nico Baader, 40, said in Munich today. “With one bold move we were able to take a number of highly qualified people on board.”
Of the new hires, 20 will come from Munich-based HVB, and they will start at Baader Bank by January 2011 at the latest, he said. Claudia Bresgen, a HVB spokeswoman, declined to comment.
Baader Bank, based in Unterschleissheim near Munich, traces its roots back to 1983 when founder and Chief Executive Officer Uto Baader began trading on the Munich stock exchange. The company’s operations in the capital-market services area focus on the small and mid-sized segment.
Oliver Riedel, HVB’s former head of equities for Germany, will start at Baader on Aug. 1, and Karin Brinkmann, who also worked for HVB before she quit, will join the new team as an analyst, Baader said. The company may consider hiring 10 more people for the team in 2011, he added.
“A number of other key people will also join us,” Baader said, declining to comment on more names.
Bank lending will be more restricted than it was in the past, especially for smaller and medium-sized companies, which will need to access alternative sources of financing such as mezzanine capital, corporate bonds or raising equity via initial public offerings, Baader said.
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