AnaCap hires four ex-Lehman executives

While some firms are scaling back operations amid the global financial downturn, others investing in financial services, like AnaCap, are taking advantage of benign recruitment conditions.

AnaCap Financial Services has hired four former Lehman Brothers’ executives, including Lehman’s ex-head of principal finance, Chris Patrick.

Patrick, who spent time at Goldman Sachs and Nomura International before beginning his 10-year career at Lehman, will be co-head of mergers and acquisitions at AnaCap alongside former Nomura veteran Finlay McFadyen.

Joining Patrick in the move to AnaCap is former executive director in Lehman’s European structured finance team Andy Wynn, who joins as director of business services and Daniel Ang and Nassim Cherchali, who both join as analysts.

The latest four hires take to eight the number of professionals AnaCap has added this year to its investment team, which now numbers 18.

At a time when some private equity firms have begun cutting costs due to the current business environment – 3i, The Carlyle Group and American Capital all announced widespread job reductions last week – certain firms have been ramping up their financial services-focused investment capabilities.

Permira recently topped off its 12-strong global financial services team with the appointment of James Fraser, while New York financial services specialist Aquiline Capital Partners has made four hires in the last two months. In September, Kohlberg Kravis Roberts hired Makram Azar from Lehman Brothers to head its Middle East and North Africa operations.

AnaCap closed its debut fund in April 2006 on €300 million and seeks high growth or restructuring opportunities in the commercial, consumer, secured asset finance and insurance markets. It has made five investments to date.