Brean Hires Former Barclays Top CMBS Trader David Cook for Sales

May 12, 2014 11:29 pm ET

May 12 (Bloomberg) -- Brean Capital LLC hired David Cook, previously the head of commercial-mortgage bond trading in the U.S. at Barclays Plc, to bolster the New York-based investment bank and asset manager’s structured-debt group.

Cook started today as a managing director in the firm’s sales group, according to Robert Fine, Brean’s chief executive officer. Cook left Barclays earlier this year. The bank in February outlined plans to eliminate 12,000 jobs amid a decline in profit.

Cook is joining Brean Capital after more than five years at Barclays. He joined the firm in September 2008 in the wake of the collapse of Lehman Brothers Holdings Inc., where he had worked since 2003, according to records maintained by the Financial Industry Regulatory Authority.

“We’re thrilled to have him on the team,” Fine said in an e-mail today. “He’s a fantastic addition to our CMBS group.”

Barclays Chief Executive Officer Antony Jenkins said last week that the lender will cut another 7,000 jobs, a quarter of employees at the investment bank, shrink its fixed-income business and focus on fewer clients in the U.K. and U.S.

Brean hired former Gleacher & Co. executives Fine and Robert Tirschwell to build its fixed-income business in 2012. Structured products encompasses bonds linked to everything from skyscrapers and hotels, to auto loans and residential mortgages.