Matt McQuade, who left Barclays Plc this year as head of U.S. distressed debt sales, has joined hedge-fund firm Trishield Capital Management to be its top trader.
McQuade started at the $220 million asset manager Tuesday. Robert Harteveldt, the New York-based firm’s chief executive officer, confirmed the hire by telephone.
Trishield has almost doubled its assets in the past year. Harteveldt joined from Jefferies Group LLC in 2013, where he’d been global co-head of fixed income and head of leveraged finance. The seven-year-old hedge-fund firm focuses on debt and equities of smaller and mid-sized companies going through periods of transition.
McQuade was no longer registered with Barclays as of April, after working at the bank since September 2008, when he joined from Lehman Brothers Holdings Inc., according to records maintained by the Financial Industry Regulatory Authority.
He joins a wave of traders and analysts who’ve left big banks for investment firms that aren’t subject to the same risk-curbing rules that have prompted financial firms to cut their inventories of debt.