Dec. 12 (Bloomberg) -- Capital Guardian LLC hired Christopher Listo, who left PrinceRidge LLC, as a managing director selling structured notes.
Listo is joining as a managing director and will also sell other securities, he said in a telephone interview. Before joining PrinceRidge in May, Listo worked for Cantor Fitzgerald since April 2010, according to online records of the Financial Industry Regulatory Authority.
He left PrinceRidge on Nov. 14, he said. PrinceRidge’s parent Institutional Financial Markets Inc. said in October it would cut 20 percent of its workforce to combine the firm with JVB Financial Group LLC into a single broker-dealer.
Matthew Chotkowski, Capital Guardian’s director of compliance, declined to comment on the hire.
Banks create structured notes by packaging debt with derivatives to offer customized bets to retail investors while earning fees and raising money. Derivatives are contracts whose value is derived from stocks, bonds, commodities and currencies, or events such as changes in interest rates or the weather.
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