Kate Kutasi, head of high-yield, distressed and private securities research atAlliance Capital Management, resigned last week after 15 years at the buy-side firm. Kutasi says she spent most of her career at Alliance working in the distressed markets and has been in her current position for the last three years. Kutasi declined to reveal her next destination except to say she plans to continue working in the distressed world. In her current role, she reported to Kathleen Corbet, ceo of fixed income. She did not return a call.
John Meyers, a spokesman, says Pat Kelley, who is currently in charge of investment-grade research, will take over Kutasi's duties. His new title is director of global credit research.