Bear Stearns Adds To London High-Yield Team
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Bear Stearns Adds To London High-Yield Team

Bear Stearns has made two additions in the last month to its high-yield and leveraged finance team in London.

Bear Stearns has made two additions in the last month to its high-yield and leveraged finance team in London. Peter Kawada has joined as an associate in origination and execution from INVESCO Senior Secured Management in London, and Sandra Aken, a credit analyst at Bear Stearns in New York, has transferred to London as a leveraged loan analyst. Both declined comment.

Tim Waine and Scott Stevens, managing directors in leveraged finance, said Kawada and Aken would be working as part of the team, without a specific reporting line to either manager. They ultimately report to Yves Leysen, head of European debt corporate finance, who said: "This is part of our normal expansion; nobody has left the team recently."

Aken was a credit analyst in New York, reporting to Mike Alix, global head of credit in New York. Alix did not return calls regarding Aken's replacement.

Kawada was previously a credit analyst in the high-yield investments group at INVESCO with a focus on telecommunications, and reported to Tim Lasham, managing director and head of INVESCO Senior Secured Management's European operation. Lasham has revamped his team because INVESCO has expanded its European investments substantially. "Now is the right time to staff up the team with European professionals," he said, noting that INVESCO closed its second European collateralized debt obligation recently and is warehousing assets for a follow-on E300 million CDO to meet excess demand for that deal.

"Peter Kawada was seconded to my team from New York, and he made a decision to go elsewhere, but we have been fleshing out the team since the beginning of the year by hiring people locally," said Lasham. His two most recent hires are Felicity Pike, an associate director, who joins from the leveraged finance team at United Bank of Kuwait in London, and Amit Staub, a junior credit analyst who comes from outside the industry. Both start on the bank loan team next week. No further hires are planned this year.

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