Kevin Murphy, Richard Johnson and a third member of the marketing team left Stanfield Capital last week. Murphy was a managing partner, head of business development, and Johnson was a managing director of strategic business development. Murphy and Johnson could not be reached.
Andrew Siegel, partner, general counsel and chief compliance officer, and Robin Keller, managing director and head of client services, confirmed the departures. Keller said team won't be replaced as Stanfield has made a "strategic decision to take a different path in achieving fund raising efforts." She said Stanfield's client services group will work closely with existing broker-dealer relationships in order to raise new funds. The pair would not comment on whether the team was let go or chose to leave themselves.
Keller said Stanfield has been growing its client services group over the last four-to-five months. The client services group had been dealing more with distinct clients, while the marketing group dealt more with new investors and with some existing clients. During the past few months Stanfield has been moving those marketing clients into the client services group.
The moves follow the departure of Robert Paine, who left Stanfield in February to join GSC Capital. At Stanfield he was a distressed debt portfolio manager. At GSC he is a senior managing director, managing a hedge fund that will invest in debt and equity investments in the leveraged and distressed markets. Stanfield will not be replacing Paine (CIN 2/27). Michael Cassidy, a trader, left at the end of January. He is now the head trader at Stone Tower Capital. Cassidy declined to comment.
Murphy joined Stanfield in 1999. Prior to that, he was a partner and director of marketing at Gleacher Natwest. He also worked at Schroeders, Lazard Freres and Cantor Fitzgerald. Johnson previously worked at ING Barings, Chase Manhattan Bank, Drexel Burnham Lambert and Salomon Brothers.
