CIBC World Markets hired Dan Conlon, formerly the head trader at Dresdner Kleinwort Wasserstein, to head its par loan trading desk. He will be replaced by Brian Schneider, who was a junior loan trader at Dresdner.
Conlon replaces Marc Berg who joined Barclays Capital earlier this month to trade stressed loans. Barclays has made several hires from CIBC over the past couple of months. In May, it hired Chris Dowicz, a former loan salesman, to be a director of bank loan sales (CIN, 5/5) and previously hired Ian Palmer, a former v.p. and executive director of capital markets at CIBC.
Conlon could not be reached for comment by press time. Dresdner plans to hire a junior trader, possibly with buyside experience, to fill Schneider's position, according to a source. A Dresdner spokeswoman did not return a call seeking comment.