Advest Securities has hired Fred Socoloff, a generalist salesman who will be based in Chicago, and Jeff Maitles, a high-yield trader, to fill a slot in its New York office.
Socoloff, who comes on as a senior v.p. and salesman, joins from RW Pressprich & Co. He will report to Herb Finn, head of sales. A call to Ed Rappa, Pressprich's ceo, was returned by Greg Wojtusiak, a firm spokesman, who declined to comment on the firm's plans, if any, to replace Socoloff. Finn says the hire is part of Advest's ongoing plan to build its sales effort (BW, 3/2).
Maitles is being brought on to replace John Mitchell, who recently left for UBS Warburg (BW, 6/15), says Rich "Moose" Musumeci, head of high yield. Maitles will focus on distressed credits and joins as a v.p. He moves over from DebtTraders, a New York distressed boutique, where he was a managing director. Prior to that, he spent 18 years at Merrill Lynch. A call to Carson Cole, DebtTraders' ceo, was not returned.