TD Securities has hired Michael Chacos as v.p. and director in credit structuring in London. Chacos was previously at Bank of America in the structured credit products group. He will start at the end of the month and report to Charles Colbourne and Hal Holappa, co-heads of credit derivatives in London and also to Joe Hegener, head of high-yield credit derivatives in New York, according to Colbourne. At BofA, Chacos reported to Paul van der Maas, managing director and head of structured credit products in London, who declined comment.
The firm had been interviewing credit structurers in an effort to beef up its operation and focus on client-driven business (DW, 5/6). Colbourne said TD would not be hiring any more structurers for the time being.