Harris Nesbitt, the U.S. investment banking subsidiary of BMO Financial Group, plans to hire at least two professionals for its high-yield sales, research and trading team in New York. The hires would be for new roles and would add to the existing 10-person team. Jim Moglia, executive managing director and head of the firm's debt products group, says the hiring is an effort to build from a small but experienced sales and trading team because of its value to the firm's middle-market corporate clients.
The plans to grow come as Harris Nesbitt recently added two managing directors to the team. Paul Phaneuf joined from the high-yield group at Barclays Capital and will head up the sales and trading effort at Harris Nesbitt. Also, Amil Schiaffino joins as a senior analyst in high-yield research. He previously worked at Scotia Capital Markets, where he was head of high-yield research.
Harris Nesbitt is bulking up its U.S. presence across sectors. It is also planning to add up to six asset-backed originators at the v.p. and associate levels over the coming months (BW, 1/10).