Lehman taps Wells

In other high yield personnel moves, telecom analyst David Wells moved to Lehman Brothers from his old digs at S.G. Cowen. He will be senior vice president at Lehman, and reporting to Mike Guarnieri, head of high yield research.

Reporting to Wells will be David Sharret, who is moving to the London office and will focus on European telecom, and Ron Consiglio, who will cover Internet and data companies, as well as international long distance issuers.

Wells, who will focus his efforts on the competitive local exchange carriers, domestic long distance and broadband wireless players, said the move is a good opportunity for him to work with more new issues. The broadband sector, especially, is heating up and garnering a lot of investor attention as of late (see story on page 1).

At Cowen, Wells reported to Paul Shaum, director of high yield research.