BNP Paribas has hired Matthew Little as an analyst in its high-yield research group in London. Little, who joins from a similar role at Bear Stearns in London, will cover distressed credits in a new role. The hire is part of Paribas' effort to get into the distressed debt business. Earlier this year, the bank hired Michael Gibbons, a high-yield trader. Mark Hughes, head of European high-yield research at Paribas, says he has no current plans to add more analysts to the six-person team.
At Bear Stearns, Little reported to Jens Jantzen, co-head of credit research. Little has not yet been replaced, according to John Knight, a Bear Stearns spokesman. He is unaware if there are any plans to do so.