John Bown and Alex Kozich have left TD Securities for Credit Suisse First Boston and Deutsche Bank's loan sales desks, respectively. A CSFB spokesman said Bown will be replacing Vikram Natarajan, a former par salesman who is now working on the par trading desk. Bown will report to Grant Pothast, managing director distressed co-head, and Andy Stock, managing director head of par sales.
The vacant par spot opened up after Bob Franz moved to the distressed side (LMW, 7/19). This was prompted by Phil DeSantis, managing director and co-head of distressed loans, replacing Joe Russell, head of high-yield trading, who moved to CSFB's Alternative Capital Division. Bown will be joining the desk next week and could not be reached.
A Deutsche Bank spokesman said Kozich joined the bank as v.p. in par loan sales and started last Monday. "We've been selectively trying to expand our team trying to build out our sales and trading," he said. Kozich will work under Dan Toscano, head of senior debt capital markets. Kozich declined comment. At TD, Bown and Kozich reported to Greg Hurley, head of loan sales and trading. Hurley declined comment. A source familiar with the situation said they have not yet been replaced at TD, but the firm remains very committed to the loan business. A TD spokesman did not return calls.