Amherst Pierpont Hires Ex-Credit Suisse Sales Head BurkeBy
Amherst Pierpont Securities has hired Michael Burke, former co-head of U.S. high-grade debt sales at Credit Suisse Group AG, as a managing director and head of credit sales.
Chris Helwig, a former Deutsche Bank AG mortgage-bond strategist, started as a senior strategist in a similar role last week, according to a company statement. Both new hires report to Ryan Mullaney, who is head of sales. The firm also named Adam Smith head of mortgage and asset-backed banking. Smith joined from Fortress Investment Group in April.
Amherst Securities Group LP sold the majority stake of its dealer arm in a merger of units of Austin-based Amherst and Stamford-based Pierpont Securities LLC announced in July 2014. After the financial crisis, smaller dealers like KGS-Alpha Capital Markets LP and Gleacher & Co. sought to grow their bond business as big banks pulled back. Amherst Pierpont is expanding amid a renewed retreat from fixed-income by firms like Morgan Stanley, Deutsche Bank AG and Credit Suisse.
“Global capital markets are undergoing a transformational shift toward a low-risk environment,” Amherst Pierpont’s Chief Executive Officer Mark Werner said in the e-mailed statement. . The firm aims to “take advantage of current market opportunities” in order to deepen its own leadership.
Amherst Pierpont has been building out its bond business since it hired former Barclays Plc trader Adam Broman in June as a managing director for agency commercial mortgage-bonds and Mark Steinacker in March as head of money-market trading, according to their LinkedIn profiles.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Apple Is Secretly Developing Its Own Screens for the First Time
- From a $126 Million Bonus to Jail: The Fall of a Star Trader
- Hong Kong's Richest Woman Loses Half Her Wealth on Stock Plunge
- Stocks Slide in Broad Selloff; Brexit Spurs Pound: Markets Wrap
- Facebook Falls as Pressure Mounts on Zuckerberg Over Data