Mike Cassidy, a senior high-yield trader, has joined Stanfield Capital as a v.p. of fixed-income trading. He joins from OppenheimerFunds, where he was an assistant V.P on the high-yield trading desk. Cassidy says he made the move because the position at Stanfield will give him an opportunity to work with structured products, including collateralized debt and loan obligations, which he did not have at Oppenheimer. It could not be determined whether Cassidy is filling a new or previously vacant position. He reports to Dan Baldwin, a partner at Stanfield, a New York firm managing some $5 billion in taxable fixed income. Baldwin did not return calls.
At OppenheimerFunds, Cassidy reported to David Negri and Tom Reedy, co-heads of high-yield. Negri says he is sorry to see Cassidy leave, and is actively seeking a replacement.