Dan Fitzgerald has resigned from Cantor Fitzgerald, where he had been brought on to co-head the dealer's high-yield and distressed secondary credit trading effort in December. Fitzgerald left on good terms, but chose to pursue other interests, says Paul Baeri, managing director at Cantor, declining further comment. Fitzgerald could not be reached.
Baeri will continue to build the high-yield and distressed businesses as the sole remaining head. He says he will not look for another co-head, but plans to announce further hires to meet his near-term goal of establishing a 15-20-person sales, trading and research operation. Baeri joined Cantor in October with a mandate to establish a high-yield dealership at the firm with a buy-side client base. Previously, its primary involvement in the high-yield business had been as an intermediary between sell-side dealers.
Fitzgerald was head of the high-yield bond department at Gleacher Natwest from 1996-2000. He also worked at Donaldson, Lufkin &Jenrette .
