Senior and long-serving research professionals are continuing to change career paths. The latest managing director in research to move is Bruce Phelps, who left his role a Barclays in New York for a job on the buy-side.
Phelps has just joined Prudential Global Investment Management as a managing director in its research team.
He joined Barclays in 2008 after its acquisition of Lehman Brothers’ U.S. business in the aftermath of its collapse. Before this, he spent eight years as a managing director in global research at Lehman Brothers.
Phelps has a PhD in Economics from Harvard University and has been cited in many academic papers related to the bond markets over the years.
Barclays has stated its intentions to build in the U.S. and hire in senior investment bankers, but Phelp’s departure is more indicative of how sell-side researchers are changing tack with their careers.
In October, David Roman, who led the U.S. medical technology team at Goldman Sachs in New York, moved to medical supply firm Baxter International Inc as a vice president. Meanwhile, Dave Francis, managing director and head of U.S. healthcare IT and distribution equity research at RBC Capital Markets, left to become chief financial officer at private healthcare exchange, eHealth Inc.