BNY Capital Markets has hired two analysts for its credit research group in Roseland, N.J. Both report to Michael Rowe, director of research. Nilay Mehta joins as a healthcare and generalist analyst in what is a new position. Mehta moves over from Huff Asset Management in Morristown, N.J. The hire is part of a plan to build out the research group as BNY makes inroads in the market, particularly in the high-yield and distressed space, Rowe says. BNY now has seven people in its research group, and is willing to make further hires this year "as quality people become available," Rowe says.
BNY has also hired Brian Taddeo to the position of v.p. covering utilities and independent power producers. He moves over from Citigroup, where he was a backup analyst on the equity side.
Taddeo replaces Ted Olshanski, who has joined Scotia Capital as a director and utility/IPP analyst. Olshanski had spent two and a half years at BNY where he was a v.p. Prior to joining BNY, he worked at Bear Stearns. Rowe and Olshanski declined to comment on the reason Olshanski left BNY. At Scotia, Olshanski will be based in New York and report to Amil Sciaffino. Sciaffino did not return calls, nor did officials at Huff.