Let the moves begin. After a quiet February for people moving, two traders are jumping ship: on the par side, Kevin Dooley, has left TD Securities to join UBS, and on the loan-only credit default side, Tim FitzPatrick left Bank of America to join Morgan Stanley.
Dooley will be a par trader reporting to Jeff Teach, a managing director and head of trading at UBS. He starts today. Dooley joined TD in March 2005 from Deutsche Bank as a senior par trader (LMW, 3/28/2005). At Deutsche Bank he was a v.p. responsible for par loan sales. It is unclear who will replace Dooley at TD.
FitzPatrick began trading LCDS at Bank of America last year (CIN, 6/23). He was an internal transfer from the high-grade desk a few months before that. He reported to Ed Hamilton, head of par loan sales and trading. A+ B of A, Matt Slate will serve as the point person trading LCDS now that FitzPatrick is gone, and Keith Robelen, who also works on the desk, and Hamilton will also be trading the product.