Merrill Lynch has snared Justin Sendak from CIBC World Markets for its leveraged finance group. A CIBC spokeswoman confirmed the managing director's departure, but a Merrill Lynch spokeswoman could not provide comment. Sendak should bolster a group that has been attempting to regain a foothold in leveraged finance and the financial sponsor business. In the past two years, Merrill Lynch has expanded its loan capital markets and high-yield groups after downsizing the business in 2001. Merrill has since hired Bill Gates from Lehman Brothers, where he was the head of the European leveraged finance group, Steve Winograd, a managing director from Deutsche Bank and David Stith, a senior managing director from Bear Stearns (LMW, 6/11). In December Todd Kaplan was named head of the division.
Merrill Bolsters Lev Fin with CIBC's Sendak
Merrill Lynch has snared Justin Sendak from CIBC World Markets for its leveraged finance group.