John Toland, formerly a high-yield bond salesman at RBC Dominion Securities, has joined Lazard Freres in New York as a high-yield sales specialist, according to Brain Devaney, head of high-yield sales at Lazard and to whom Toland reports. Toland, who started last Wednesday, declined to comment. Devaney says the hire is for a new role on the sales team and indicates Lazard's growing capabilities in the junk-bond market.
Dan Elkaim, head of high-yield sales at RBC in Greenwich, Conn., and to whom Toland reported, says the firm plans to look internally to fill his position.