Raymond James & Associates recently hired John Stewart, a former Banc of America Securities investment-grade salesman, for a similar role. He started late last month and reports to Larry Haag, head of investment-grade sales in New York. Haag noted that Stewart has clientele representative of the type of corporate bond business that Raymond James is focusing on as part of its strategic effort. He added that the company has positioned itself as a boutique and has a cadre of professionals with similar experience to Stewart's. Haag said the hire is not connected to the recent departures of two salesmen, Jeffrey Gross and Ed Byrne, to Advest Securities (see related story, page 4).
Stewart spent the past five years at BofA and reported to Bill Parry, managing director and head of U.S. investment-grade sales. Parry said the position will be filled internally. Stewart also previously worked at Goldman Sachs.
