Joe Bencivenga, former global head of high-yield at Barclays Capital, has joined Chela Technology Partners, a New York-based firm that advises technology and emerging telecom companies on restructuring and mergers and acquisitions. Bencivenga becomes the third partner at the six-person firm. Afsaneh Naimollah, managing partner who founded the firm two years ago, and Gilles Gade, partner, are also Barclays alumni. Bencivenga says he joined the firm because "a lot of these technology and telecom firms have fallen on hard times and the market abounds with restructuring opportunities."
Bencivenga left Barclays last March after three and a half years at the firm. He was head of high-yield research at Drexel Burnham Lambert from 1989 to 1990 and Salomon Brothers from 1990 to 1995.