Fortis Financial Services is building a loan trading capability and has brought on board Nicole Trepicchio from HypoVereinsbank to bolster the platform. Mike Halovatch joined Fortis three months ago from WestLB to kick start the firm's secondary loan trading effort. Halovatch is the head trader at Fortis, while Trepicchio will lead up the sales effort. The desk will focus on par and near par secondary loan trading. Fortis will also look at investment grade, split-rated and leveraged loans rated single-B and up.
Marni Joy, who is executive director of loan sales and trading at WestLB, said the firm has brought on Chris Saggese as a junior trader following Halovatch's departure. Trepicchio and Halovatch previously worked together at HVB. Fortis officials confirmed the move. Elizabeth Donahue, managing director and head of syndications with HVB, did not immediately return calls.