Gary Katcher has resigned from his position as head high-yield trader at RBC Dominion Securities in New York. He declined comment on why he left, other than to say he feels like taking a break from the business. The junk bond veteran, who has worked for Bear Stearns and Merrill Lynch, says, "I left of my own free will. Those guys are definitely making a go of it and I wish them the best." Katcher believes RBC has promoted Salvator Abbatiello to fill his position, but Abbatiello could not be reached for comment as BW went to press.
Peter Parent, head of sales at RBC's high yield desk, declined comment, referring calls to Katcher's former boss, Andrew Pringle in Toronto, who was unavailable for comment. Katcher was brought on roughly 17 months ago when RBC entered the junk bond business.