--Joy Wiltermuth
Guggenheim Securities has scooped up Summit Securities Group co-founders Mark Field and John Agnew. The fixed-income veterans will oversee the firm’s high yield group, with a focus on distressed debt transactions. The duo, along with nine other Summit colleagues, will report to Ron Iervolino, head of fixed income sales and trading. “It is filling one of our niches, picking up a solid team in one fell swoop,” said an official close to the move.
Prior to co-launching Summit in 2007, Field was the head of U.S. fixed-income at Schroeder Wertheim. Before that, he headed the high yield group at Salomon Brothers, where he worked for over 20 years. For his part, co-founder Agnew headed high yield trading at Schroder Wertheim, Fleet and BNP Paribas.
Calls to Guggenheim and Summit were not immediately returned.