CIBC World Markets has named Jacques Cornet as head of North American high-yield research. Cornet, a managing director who follows gaming, declined comment. He replaces Ed Mally, who was recently released from the firm along with at least two other analysts. The changes in research are part of a larger shakeup, as the firm rethinks its business strategy, according to people close to the situation who declined further comment. Walter McLallen, head of the firm's high-yield business, did not return calls.
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