BNY Capital Markets has recently begun trading private placements and has snapped up David James, v.p. at First Albany Capital in Morristown, N.J., as v.p. in Roseland, N.J. James started last week and reports to John Hale, managing director and head of trading. BNY also will also continue adding personnel to its existing credit businesses.
Michael Rowe, managing director and director of research, said the firm plans to grow the new business over time as part of an overall expansion of its credit business. In sales, the firm seeks up to five high-yield and distressed professionals. And in research, it plans to hire four staffers: to cover autos, steel/chemicals and generalists for high-yield and distressed.
"We're also currently looking to beef up our investment-grade side by bringing in five to 10 salespeople and one to two traders, or possibly an entire existing group," said Rowe. The additions would all be part of a broader expansion that has seen BNY grow its credit business during the past year with a slew of hires (BW, 4/26).