Merrill Lynch has hired Andy Phelps for its collateralized debt obligation business from Goldman Sachs in New York. Phelps joins Merrill as v.p. on the structured finance syndicate desk and will distribute to investors the securities the firm underwrites. "It's a growth business for us and we need more talent," says one Merrill official, referring to the firm's move up the U.S. CDO underwriting league tables. A call to Phelps was referred to Scott Soltas, head of the asset-backed and CDO syndicate and to whom Phelps reports. Soltas declined to comment. Andrea Rachman, a Goldman spokeswoman, declined to comment.
Merrill Adds CDO Syndicate Pro From Goldman
