Scott Kephart, high-grade corporate salesman at BNY Capital Markets in Roseland, N.J., has joined Morgan Keegan & Co. in a similar role in New York. Kephart, who joins as first v.p. in institutional fixed-income sales, declined comment. He now reports to Peter Lozier, fixed-income branch manager, according to an official at the firm.
Kevin Heine, spokesman for BNY, did not comment by press time. But it is likely Kephart will be replaced, since Michael Rowe, managing director and director of research at BNY, indicated earlier this month the firm would like to beef up the investment-grade side of its busines. He is looking at hiring five to 10 salesmen and a couple traders or possibly an entire existing team (BW, 1/10).