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Harris Nesbitt Hires For High-Yield Biz

Harris Nesbitt has hired three professionals for its high-yield sales and trading business in New York, as first reported last week on BW's website.

Harris Nesbitt has hired three professionals for its high-yield sales and trading business in New York, as first reported last week on BW's website. Karen Foresta, director and trader at Scotia Capital Markets, joins Harris Nesbitt as a managing director. Also coming aboard are George Wehrlin, v.p. and senior salesman at Fleet Securities, and James Chiriaco, v.p., who previously worked in junk bond sales at Prudential Securities and Bear Stearns.

The three new hires report to Paul Phaneuf, managing director and head of high-yield sales and trading. He said the hires are part of Harris Nesbitt's broader plans to grow its origination business and by adding a trader and salesmen, the firm will be able to distribute its product and add liquidity in the secondary market. Frank Pinon, managing director and head of fixed income at Scotia Capital in New York, said the firm is looking to replace Foresta. Alison Gibbs, spokeswoman for Fleet, did not return a call.

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