Anand Ramachandran, a former managing director of high-yield and distressed sales at Guggenheim Partners, has joined TD Securities’ loan sales desk. The vacant spot opened up after John Bown and Alex Kozich left TD for Credit Suisse First Boston and Deutsche Bank, respectively (LMW, 9/6). Ramachandran, who worked on the high-yield desk at TD before Guggenheim, will be reporting to Greg Hurley, TD’s head of loan sales and trading. Ramachandran referred calls to Hurley, who declined comment.
Neal Thomas, a managing director at Guggenheim, confirmed Ramachandran’s departure. Thomas said Ramachandran joined Guggenheim last February after leaving Maxcor Financial. At Guggenheim he reported to Joseph Bencivenga, a managing director of high-yield and distressed sales. Bencivenga was out of the office and could not be reached. “[Anand] is a great guy. He went to seek a different opportunity and we wish him well,” Thomas said.
Simultaneously, TD trader Jim Sweeney is moving to the sales desk. Hurley will take on his trading responsibilities, said a loan source. This follows the departure of Marc Sorensen, who left TD to go to Cargill Value Investment, the proprietary trading arm of Cargill (8/2). Additional hires could be made at TD, the source said. Before joining TD in March, Sweeney worked as a sourcer at Imperial Capital. A TD spokesman did not return calls.