Memphis-based dealer First Tennessee Capital Markets has hired corporate bond analyst Michael Dahood away from cross-town rival Morgan Keegan. Dahood, who joined three weeks ago and reports to fixed income trading chief Louis "Deke" Iglehart, says his focus is on developing both proprietary and customer oriented research for secondary trading opportunities. He notes the firm is trying to build on its strength in the trading and sale of callable agency bonds, and will concentrate primarily in the industrial-grade sector.
Dahood says the corporate team at FTCM consists of two traders and a soon-to-join third, and himself. In terms of selling product to FTCM's account base, he says he is working with sales manager Joe Overstreet and the firm's fixed income sales force, noting that he did not envision the firm developing a dedicated corporates sales force.