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Advest Makes High-Yield Sales, Trading Hires

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Advest Inc., a regional brokerage and investment banking subsidiary of The MONY Group, has added three salespeople and a trader to its fixed-income unit. The hires are part of an ongoing program to expand high-yield sales and trading (BW, 3/2) says Herb Finn, managing director and head of sales.

The hires include John Mitchell, who joins the New York office as a senior v.p. and trader from R.W. Pressprich & Co. He reports to Rich Musumeci, managing director and co-head of credit trading.

Also joining the New York office are three salespeople: Christina Sollott, a senior v.p., James Messing, a v.p., and Thomas Bachmann, a v.p. Advest has also hired Bill Moucka as a v.p. in taxable fixed-income sales for its Chicago office. Bachmann joins from Spear, Leeds & Kellogg, Messing comes from Red Rock Securities, and Moucka comes from Howe Barnes Investments. They will all report to Finn. Finn says he plans an additional 10-15 hires to the existing sales unit, which now numbers 72.

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