Tom Andretti has left his position as high-yield trader at Peconic Securities, an interdealer broker, to join Cantor Fitzgerald's sell-side operation, according to Tom Keyes, head of high-yield at Peconic. He will report to Paul Baeri, head of high-yield. A call to Baeri was referred to Tom Ryan, a firm spokesman, who did not respond by press time. Keyes says he will interview to fill the position.
While Cantor is perhaps best known in the high-yield community as an interdealer broker, Baeri was brought in last year to establish a sell-side business with clients on the buy-side. The firm had been planning to add to its desk (BW, 3/30).