CIBC World Markets is building up its European high yield desk in London. Alasdair MacLean, previously of Donaldson, Lufkin & Jenrette, was hired at the beginning of this month as a senior research analyst covering manufacturing and utilities. He will join Philip Volpicelli, who covers industrials and consumer products. Prior to the hire, Volpicelli had coverage duties for all sectors save for telecom, where the desk has three dedicated analysts. Vincent Moge, who left ING Barings six months ago, has also joined CIBC as a salesman, and will report to desk co-heads Frank Ferrantelli and Denis Loubignac. "Most places don't have more than four or five salespeople, so our manpower is similar to that of other desks," said MacLean. Additional hires will be dependent on how rapidly the market expands, he added.
CIBC Building Euro HY Desk