Merrill Lynch has hired Andy Phelps from Goldman Sachs for its collateralized bond obligation business in New York. Phelps joins Merrill as a v.p. on the structured finance syndicate desk and will distribute to investors the securities the firm underwrites. "It's a growth business for us and we need more talent," says one Merrill official, referring to the firm's move up the U.S. CDO underwriting league tables. A call to Phelps was referred to Scott Soltas, head of the asset-backed and CDO syndicate and to whom Phelps reports. Soltas declined to comment. Andrea Rachman, a Goldman spokeswoman, declined to comment.
Merrill Adds CDO Syndicate Pro From Goldman