Advest Securities, a fixed-income broker/dealer, has recently added three new professionals to its expanding high-yield department, according to Rich "Moose" Musumeci, head of high yield in New York. Mesh Tandon comes on board as a managing director in high-yield and distressed sales. He previously worked at R.W. Pressprich where he was a partner and senior salesman. Jon Thomas joins Advest as a senior v.p. in charge of the firm's high-yield and distressed debt research capabilities. He also comes from R.W. Pressprich. Ed Rappa, ceo of R.W. Pressprich, did not return a call by press time.
In addition, Gunjeet Singh was recently added to specialize in distressed sales, as a v.p. He previously worked at DuPont Capital Management, a high-yield and distressed boutique where he also sold distressed debt. Musumeci says all three new hires start next month and report to Rich Czyzynski, managing director and head of-high yield sales for the firm. Musumeci notes the three new hires are part of continued efforts to expand the firm's high yield presence, which is part of the firm's broader expansion plans (BW, 1/23, 7/21).
