A former equity research, sales and trading team from FIG Partners LLC is expected to join D.A. Davidson & Co., four sources familiar with the matter told S&P Global Market Intelligence.
Those set to join D.A. Davidson include former FIG Partners Head of Sales and Trading Alex Krasutsky, Deputy Director of Research Kevin Fitzsimmons, Head of Corporate and Private Client Services Troy Carlson and senior vice presidents Bob Hughes and Pete McCorry, two of the sources said. While the moves are expected, they have not been finalized, and the plans could change, the sources added. The employees can not officially join a competitor until late May after their garden leave provisions with FIG Partners expire.
The individuals could not be reached or declined to comment, and a media relations contact for D.A. Davidson declined to comment. The team departed from FIG Partners about two months ago, around the time the company announced its sale to Janney Montgomery Scott LLC.
FIG Partners focuses on depositories, and the hires would give D.A. Davidson expanded coverage in that sector. D.A. Davidson does have a dedicated coverage effort devoted to the bank space with a team that includes at least four senior equity research analysts, according to the company's website.
The professionals expected to join D.A. Davidson have a history covering banks and thrifts. Krasutsky, Hughes, Carlson and McCorry all worked at Keefe Bruyette & Woods Inc. earlier in their careers. Fitzsimmons previously worked at Sandler O'Neill & Partners LP and Hovde Group LLC.