DebtTraders, a broker dealer that specializes in distressed and high-yield debt, plans to increase its European presence by adding professionals to its London office. The firm aims to hire two research analysts and bulk up its sales department, says Carson Cole, head of research in New York. The new sales hires would report to Richard Gathercole, head of sales in London.
Cole says DebtTraders plans to add because it sees new opportunities in Europe as the number of high-yield issuers and distressed corporates increases. The firm has maintained a small London presence for some time but is planning to move to a new office and increase its sales force to at least 10 people, according to Cole.