Bank of America has hired a high-yield saleswoman and lost a pair of credit professionals for its sparkling new office in London.
Michelle Ransley, director in credit sales at Dresdner Kleinwort Wasserstein, has joined BofA in a new position as a dedicated high-yield saleswoman, according to an official at the firm. She starts in a couple weeks. Ransley, who could not be reached, will report to Peter Young, head of European high-yield and international special situations. Young has been out of the office for several weeks and could not be reached for comment. Liz Wood, spokeswoman, declined comment.
On the flip side, Neil Kadagathur, credit trader, and Jeffrey Burch, credit researcher, both recently left. Kadagathur, trader for financial institutions, joins Goldman Sachs in London next week in credit trading and will report to Simon Morris, head of European credit trading. Morris and Rebecca Nelson, spokeswoman for Goldman, declined comment. Burch, meanwhile, is joining Blue Mountain Capital, a New York-based money manager that recently formed a $1.5 billion credit trading joint venture with London-based BlueCrest Capital, said Andrew Feldstein, fund manager. Burch could not be reached
At BofA Kadagathur reported to Alexis Renard, global head of structured credit trading. Neither Kadagathur nor Renard returned calls.
Burch, a former Institutional Investor-ranked utility analyst at Morgan Stanley in London, joined BofA almost a year ago to cover European utilities but in recent months has provided research to BofA's proprietary debt trading desk.
