Maxim Group, a boutique investment bank and research house, is beefing up in equities from coast-to-coast.
Rather than hire a research salesperson to cover portfolio managers and analysts, and a separate sales trader to handle buyside traders, the firm is looking for single individuals to tackle both roles. This is the wave of the future, according to Jamie Barker, head of institutional sales and trading at Maxim.
For its newly opened Boston office, Maxim hired Scott Hughes as a ‘hybrid’ research salesperson and sales trader. Hughes previously ran the middle markets group at Morgan Stanley.
For its San Francisco office, Maxim hired Dave Haraburda also as a hybrid sales executive. Haraburda was previously a sales trader in the San Francisco office of Collins Stewart.
In New York, the firm hired Mark Milton as a hybrid sales executive. Milton was previously the head of global trading at GLG Partners, a British hedge fund.
Finally, Maxim hired Dave Circle as a hybrid in its New York office. Circle will handle trades of both equities and fixed income securities. The exec was previously with Louis Capital. He also worked for Bear Stearns at one time.
Maxim, which focuses on small and mid-cap stocks, is also looking to hire staff to cover European accounts, according to Barker. They would initially be working out of Maxim’s New York office. Maxim now has 12 publishing analysts and total of 25 sales and sales traders in New York, Boston and San Francisco.