Bloomberg News

Guggenheim Hires Barclays Investment Banker Taussig

April 04, 2013

Guggenheim Partners LLC hired Barclays Plc (BARC)’s Andrew Taussig, the London-based bank’s head of investment banking for retail companies, according to a regulatory filing and people familiar with the move.

Taussig, who was also a vice chairman, left Barclays in February and his employment at Guggenheim was effective by March 28, according to records on the website of the Financial Industry Regulatory Authority, Wall Street’s self-funded watchdog. Additional Barclays bankers also may join Guggenheim, said the people, who asked not to be identified because the talks are private.

Guggenheim, the asset manager that oversees $170 billion, is hiring executives and expanding into businesses including mergers advisory, digital media and hedge funds. Chief Executive Officer Mark Walter brought in Alan Schwartz, former CEO of Bear Stearns Cos., in 2009 as executive chairman to help build operations such as full-service investment banking.

Torie von Alt, a spokeswoman for Guggenheim, and Kerrie Cohen at Barclays declined to comment. Taussig, 61, didn’t respond to messages after normal business hours.

Guggenheim advised on $5.85 billion in deals last year, ranking 80th among merger-and-acquisition advisers, data compiled by Bloomberg show. It’s biggest transaction was Walt Disney Co.’s $4 billion purchase of Lucasfilm Ltd. The firm had advised on $2.16 billion in deals this year through yesterday, ranking 60th.

Lehman Brothers

Taussig joined a predecessor to Credit Suisse Group AG in 1982 and moved to Lehman Brothers Holdings Inc. in 2005, Finra records show. Barclays bought Lehman’s North American businesses in 2008 after the New York-based firm collapsed. Todd Boehly, Guggenheim’s president, and Scott Minerd, chief investment officer, also worked at Credit Suisse.

Taussig has advised consumer and retail companies. In 2005, he managed Toys “R” Us Inc.’s $7.5 billion sale to a group of buyout firms and advised Reebok International Ltd. in its sale to Adidas-Salomon AG for about $3.8 billion. Taussig has worked with Home Depot Inc., Best Buy Co. and Staples Inc.

Guggenheim has been hiring. Henry Silverman, former chief operating officer of Apollo Global Management LLC, joined last year, then in March was named head of the real estate and infrastructure business. The firm hired Ross Levinsohn this year to oversee a newly formed digital media unit.

Walter and Guggenheim Baseball Management led the $2.15 billion purchase of the Los Angeles Dodgers, announced in 2012. In September, Guggenheim, along with Mandalay Entertainment and Mosaic Media Investment Partners LLC, agreed to buy Dick Clark Productions, which produces “New Year’s Rockin’ Eve” and “The Golden Globes.”

To contact the reporters on this story: Dakin Campbell in San Francisco at dcampbell27@bloomberg.net; David Welch in New York at dwelch12@bloomberg.net; Stephanie Ruhle in New York at sruhle2@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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