Barrenjoey secures top UBS banking analyst Jonathan Mott, mining analyst Lawcock in UBS raid

Barrenjoey has secured a string of high profile names as the banking start-up seeks to make a big dent in local equities trading and dealmaking. Read who is on the list.

Staff at investment bank UBS have been targeted as part of the Barrenjoey hiring spree. Photo: AFP

Marquee UBS banks analyst Jon Mott has joined the ranks of senior analysts decamping to new David Gonski-chaired firm Barrenjoey, as it ramps up its local hiring spree.

The Australian understands Mr Mott resigned this morning and that some of his team - including offsider Minh Pham – will follow, as Barrenjoey executes a broader raid of UBS staff.

Mr Mott – a top rated banks analyst – joined UBS in 2002 from Merrill Lynch. Prior to that he had a stint at ABN Amro and Colonial First State, according to LinkedIn. He is jumping over to Barrenjoey alongside well regarded lead UBS mining analyst Glyn Lawcock and transport and gaming analyst Matt Ryan.

There are about 10 UBS exits to Barrenjoey in the latest round, which were spurred largely by resignations on Monday, while the firm is also losing director Tom Godfrey to MST and associate Leonardo Pinto to Goldman Sachs.

Barrenjoey embarked on a hiring drive last year as the Magellan Financial Group and Barclays-backed firm seeks to make a big dent in the local equities trading and merger and acquisition advisory sector.

A string of exits from UBS and other firms are expected this week, adding to scores of key hires by Barrenjoey over the past six to nine months. Former UBS block trade specialist George Kanaan was among senior staff to leave the investment bank last year, while JPMorgan has lost a spate of senior bankers to Barrenjoey including Jabe Jerram, Anthony Brasher and Dyson Bowditch.

Banking analyst Jonathan Mott

The Australian flagged in February that Barrenjoey was biding time to scoop up dozens of UBS research and advisory employees, after bonuses and stock awards hit staff bank accounts.

It is unclear, though, when Barrenjoey will begin trading shares and in fixed income markets given the firm is being built from the ground up.

Former UBS stalwart Guy Fowler is Barrenjoey executive chairman and former Challenger boss Brian Benari is chief executive. Former UBS Australia boss Matthew Grounds is preparing to join.

Barrenjoey had an implied valuation of almost $400m at the time of launch and has combined capital backing from Magellan and Barclays of $200m, giving the firm firepower.

Also decamping from UBS to Barrenjoey in the latest crop of departures are; research executive director Craig Stafford, investment banker and managing director Luke Bentvelzen. equities executive director Craig Webb, retail analyst Aryan Norozi, co-head of emerging companies research Josh Kannourakis and mining analyst Dan Morgan. The individuals will start at the new firm after a period of gardening leave.