Banc One Capital Markets has hired Roger Gordon, a former head of high-yield research at Goldman Sachs, to spearhead its growing high-yield research effort. The firm plans to hire four more analysts as part of its overall desire to carve a wider presence in the leveraged finance world, explains Dana Johnson, head of research at Banc One and to whom Gordon now reports. Johnson stresses the additions to high yield are not because of the sector's recent outperformance but rather are part of a broader expansion of the firm's leveraged finance activities during the past two years. Gordon started at the beginning of the month in his position, which is a new role. Previously, the high yield research team consisted of three sector analysts but did not have a group head.
Banc One is looking to hire researchers to complement its existing corps of sector analysts, who cover auto, manufacturing, energy and consumer product companies. Roger says he is particularly looking for incoming analysts who can be superb bond pickers and think like portfolio managers.
Gordon left Goldman early last year after managing its global high yield research group for two and a half years (BW, 1/19/02). Prior to that, he was a managing director at the former Donaldson, Lufkin & Jenrette.
