Credit Suisse First Boston is bulking up its distressed loan operations, bringing on Frank Fiorito, formerly a director and head bank loan trader at Dresdner Bank, and Michael Glickman, formerly at Conseco Capital Management. Fiorito will be a director and distressed loan sourcer, while Glickman will be a director and research analyst on CSFB's distressed desk. The duo started working at CSFB last Monday.
Credit Suisse First Boston recently restructured its bank loan trading desk, bringing its distressed group onto the private side of its operations under two new heads. Phil DeSantis and Grant Pothast, both managing directors, are now co-heads of CSFB's distressed bank loan group (LMW, 5/12). Pothast confirmed the new arrivals.
It could not be determined how Dresdner and Conseco will fill the vacancies. Craig Meisner, managing director and Dresdner's head of loan syndications for North America, was unavailable for comment and a spokeswoman from the firm declined comment. Calls to Conseco regarding Glickman's departure were referred to Michael Hoover, the firm's director of marketing and client services. Those calls were not returned by press time.