Janney Montgomery Scott LLC said it added five new hires to its capital markets business unit, including two former employees of MF Global Holdings Ltd.
Charles Engel and Paul Callahan, both formerly of MF Global, will be joining Janney Capital Markets as managing directors of institutional credit sales, the company said. Engel, former vice president of high-yield sales at MF, will be based in Dallas, Texas, where Janney said it plans to open a satellite office. Callahan will be based in New York. The two spent nearly 10 years together at Samco Capital Markets before brief stints with MF.
“One was at MF for three days, and the other was there for a month,” Steve Genyk, head of fixed income at Janney, said in a telephone interview. “When we evaluated them, we really looked to their time together at Samco. They’re terrific hires for us.”
MF Global Holdings, once run by former Goldman Sachs Group Inc. Co-Chairman Jon Corzine, filed the eighth-largest U.S. bankruptcy in October. Corzine, also a former U.S. senator and New Jersey governor, quit as chief executive officer on Nov. 4.
Janney, the Philadelphia-based investment advisory firm, said it also hired Colin Morse as vice president of its financial institutions team, Joseph Bosch as managing director of public finance, and Daniel Froehlich as vice president of public finance. Morse previously worked at First Empire Securities in New York, while Bosch and Froelich are both formerly of George K. Baum & Co. in Missouri, Janney said.
“We are going to continue to grow,” Genyk said of Janney. “As talent becomes available that focuses on the segments of the market where we have a competitive advantage, we will continue to hire.”
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