Brean Murray Hires Scott Buchta as Head of Fixed-Income Strategy

Brean Murray Carret & Co. LLC, the New York-based investment bank and asset manager, has hired Scott Buchta as its head of fixed-income strategy as the company expands in bonds.

Buchta, 48, started this week, he confirmed today in a telephone interview. He was among about 20 workers fired in August by Sandler O’Neill & Partners LP as that firm retrenches amid a slump in trading and mergers and acquisitions.

Brean Murray this year hired former Gleacher & Co. executives Robert Fine and Robert Tirschwell to build its fixed- income business. The May exit from Gleacher of Fine, who oversaw mortgage bonds, asset-backed securities and interest rates, and Tirschwell, his head of trading, led to the departure of as many as half of the unit’s 70 employees.

Buchta previously headed investment strategy at Braver Stern Securities LLC and Guggenheim Securities, after 20 years at Bear Stearns Cos., which he left in 2008 after its purchase by JPMorgan Chase & Co.

To contact the reporter on this story: Jody Shenn in New York at jshenn@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net