Tradition continues secondaries hiring spree

The Swiss interdealer-broker brings its secondaries advisory team to 10 members and plans to add more in the coming months.

Tradition, the Swiss inter-dealer broker, has made another hire to its secondaries advisory team and plans to add more in the coming months in the US, UK and Europe.

Kevin Rogers, most recently a principal at Triago – who cut his teeth at Portfolio Advisors – has joined Tradition’s New York office, according to a source familiar with the matter.

Rogers will work with John Corley, who came on board in September when Tradition took on several members from Duff & Phelps’ secondaries advisory team, Secondaries Investor reported at the time. That team is focused largely on restructuring private equity funds negatively affected by the covid-19 crisis.

Duff & Phelps’ secondaries advisory team includes Kevin Nowaskey, a former New 2ND Capital and HQ Capital executive, and Dexter Blake, a managing director in the firm’s Morristown office who leads the global secondaries practice, Secondaries Investor reported last year.

The hire at Tradition comes alongside an internal move: Flavia Cresswell-Turner, previously in London, is understood to be transferring to Madrid to focusing on GP/LP relationships across product lines and help build out the presence there.

Tradition plans to continue to add individuals in each geography – New York, London and Madrid – over the next 18 months, according to the source. The secondaries team are all understood to report to head Dan Nolan in London.

This moves comes on the heels of Tradition’s hiring the head of real estate secondaries at Tullett Prebon, Michael McKell, as well as a member of his team, to advise on real estate transactions, Secondaries Investor reported last week.

With Rogers’ hire, Tradition’s secondaries advisory headcount breaks into the double digits, it is understood.

There has been a flurry of activity in the secondaries advisory space: Matthew Wesley and his team are set to join Jefferies after a brief stint at Guggenheim Securities; Michael Yang and Kilian Toms joined Sera Global this year; Spencer Gyory will join Goldman Sachs from Lazard; and Sameer Shamsi will become Houlihan Lokey’s secondaries advisory head, joining from Credit Suisse.

Tradition declined to comment. A spokesman for Triago declined comment.

– This story has been updated to include details of Duff & Phelps’s secondaries team.