Deutsche Asset Management has hired Greg Croll as head high-yield trader for its Philadelphia office. He joined last week, reporting to Andrew Cestone, portfolio manager and head of high-yield. Croll's most recent position was as New York-based managing director and head of fixed-income trading at ING Barings Securities, which shuttered its operation about a year ago. He declined comment, and Cestone did not return calls. A fixed-income official close to Croll says he wanted to return to the buy-side, where he spent five years, also at ING.
Deutsche Asset Management has been aggressively recruiting fixed-income talent in preparation for the growth of its bond assets due to the acquisition of Scudder Kemper Investments. While it could not be determined how many hires have been made so far, the group is looking for at least two analysts, says a high-yield official familiar with the situation. Most of the members of Scudder Kemper's Chicago-based high-yield team are not seen joining Deutsche Asset Management. This is due to unhappiness about what their role would be there and partly because they do not want to move to Philadelphia (BW, 3/24).