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Rothschild hires Lehmen bankers

Two-centuries-old family-owned bank Rothschild has taken advantage of the demise of rival Lehman Brothers, hiring three M&A bankers from the collapsed firm. The boutique investment bank has hired Antonio Villalon as co-head of its Global Financial Institutions Group. Rothschild also named Stephen Fox as co-head of its UK FIG and Philippe Le Baquer moved across to work on FIG deals in continental Europe.

"We are seeing significant demand for our FIG related independent advice," the bank said.

Most of Lehman Brothers' assets have been sold to Barclays and Nomura after the company filed for bankruptcy in September. The hiring from Rothschild is seen in some circles as a sign of confidence among the smaller boutique investment bank even while their larger rivals are ravaged by the credit crisis.

Only two major investment banks – Morgan Stanley and Goldman Sachs – have survived the credit crisis as independents, with the rest being acquired or made bankrupt.

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