GREENWICH, Conn. (HedgeWorld.com)--Art Mbanefo has left Credit Suisse First Boston, where he led the prime brokerage activities since early 2002.
Mr. Mbanefo will join Paloma Partners Management Co. in January as managing director and will be a member of the office of the chairman, said a Paloma spokesman. He will report to S. Donald Sussman, chairman and CEO of Paloma, and also the firm's president, Bill Johnson.
According to a spokesman, Mr. Mbanefo will focus on the continued institutionalization of Paloma, the selection of trading groups and strategies and the development of important relationships with Wall Street in the newly created position. Paloma, a market neutral manager, manages a number of hedge fund strategies including convertible arbitrage, merger arbitrage and statistical arbitrage.
At CSFB, he took over after Bob Sloan left in 2002. Mr. Mbanefo was global head of equity finance and securities prime banking, which was a new role spanning both the equity and fixed-income areas. He was with New York-based CSFB for more than six years and at one time was the head of the U.S. derivatives trading team .
Last week, CSFB's Phil Vasan took over Mr. Mbanefo's duties. Mr. Mbanefo reported to Mr. Vasan, who oversees CSFB's global equity derivatives and convertibles business and the firm's prime banking business, which totals US$350 billion.