Macquarie taps into Russell Reynolds
It seems there are benefits to be the second securities firm to go hunting for a new president and chief executive officer in a relatively short period of time. Wednesday, Macquarie Capital Markets Ltd. named David Fleck as its new president and chief executive officer. Fleck, an industry veteran who has worked in both investment banking and institutional equity sales, starts on May 16.
Almost one year back, Barclays Capital announced that it had hir adidas superstar ed Michael Wilson as chairman of its Canadian operation and Bruce Rothney as head of Barclays Capital, Canada. Barclays hired the executive recruiting firm, Russell Reynolds Associates to source potential appl adidas superstar icants for the two Canadian positions it was seeking to fill.
So when Macquarie came along seeking a replacement for Paul Donnelly, its president and chief executive for the past four years, it did the smart thing and hired Russell Reynolds. That firm knew which candidates may or may not be available, even if the two firms are different in scope, focus and plans. It’s not known whether Russell Reynolds gave Macquarie a break on the fee given that it would haven’t as long to develop a list of potential candidates.
A few weeks back, Danny McCarthy, formerly a vice chairman and managing director of diversified industry coverage, moved to Credit Suisse Canada, via a mandate given to Russ adidas superstar ell Reynolds. At his new firm McCarthy is a managing director in charge of its diversified industry group.
But Russell Reynolds doesn’t get all the business: a week back Merrill Lynch Canada named Adam Howard as its new country head, replacing Lynn Patterson. The position was filled without help from Russell Reynolds.