September 17, 2015 – David McCormack has launched executive search firm DMC Partners. Headquartered in New York City, the firm’s core practices are focused on recruiting in the capital markets, infrastructure, investment management, and technology sectors.
Brook Berry joins Mr. McCormack as client manager. The firm is expected to add a chairman in October. DMC Partners plans to hire up to six senior recruiters with additional support staff at the beginning of the 2016.
Mr. McCormack said that “DMC Partners’ success will ultimately be built on the people we hire.” As such, the firm is in full-on hiring mode, looking to add search consultants across its core verticals specializations. DMC Partners will continue to look at new business opportunities within the executive recruiting space, but Mr. McCormack said “we are not trying to reinvent the wheel — but we will build a great team and constantly look at new business areas that complement our current client offering.”
With 14 years of executive search experience, Mr. McCormack most recently served as a partner with Westwood Partners LLC, an executive search and advisory recruiting boutique focused predominantly on financial services. Before that, he served as a managing director at U.K.-based Sheffield Haworth. He began his career at Merrill Lynch in London as an Institutional equity sales trader, before moving into executive search in 2001.
DMC Partners is currently retained by several clients with a focus on equities. Mr. McCormack has built several equities businesses for sell and buy-side clients in past assignments.
“Since early 2013 we’ve seen over 150 equity research analysts move around the U.S. market,” said Mr. McCormack. “Outside of research, we’ve also seen a lot of hiring this year in high touch sales trading, high touch trading, and electronic & equity derivatives. Over 30 equity sales traders and general traders moved from bank to bank this year and we haven’t seen that shuffle in years. No bank is adding net headcount so this is attributed to upgrades and certain banks and broker dealers wanting to take further marketshare from those that are still distressed from the financial crisis.”
DMC Partners is currently engaged in searches for senior equity-related positions for hedge fund clients. Recently filled positions include: head of biotech equity research; head of E&P equity research; head of Canadian equity derivative sales; and head of U.S. equity trading.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media