Holland brings with him a four-member proprietary trading team.
Ashok Wadhwa, chief executive of Ambit, claims he had been negotiating with Holland for the past three months, and the news surrounding Merrill's shotgun acquisition by Bank of America did not force anyone's hand.
However, the bad news didn't hurt, either. "The financial crisis couldn't have come at a better time," he says.
Other Wall Street refugees are finding their way to Ambit.
In August, Wadhwa appointed Nikhil Puri, from Bear Stearns' New York office, as managing director of Ambit's corporate finance business.
Now, Wadhwa says, Ambit is in final talks with a handful of Lehman employees.
Image: A Bear Stearns employee leaves the company's headquarters in New York | Photograph: Emmanuel Dunand/AFP/Getty Images
Also read: Main Street's rage at the financial crisis
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