BNY Mellon Capital Markets has recruited an eight-person team of MBS experts from Ally Securities.
It has also appointed Dan Mulholland as head of U.S. Treasury trading.
The MBS team is led by Dave Piersol as head of MBS sales and Joe Gaziano as head of MBS passthrough trading.
According to a release from the firm, Piersol has held senior securities sales and relationship management positions for over 25 years, including time at JPMorgan, Bank of America, Greenwich Capital, and Morgan Stanley.
Other members of the newly recruited MBS sales team include David Clifford, who has 25 years of MBS sales and trading experience that includes service with Barclays, BofA and Prudential Securities; Thomas Daly, who has over 30 years of experience in firms such as Morgan Stanley, Salomon Brothers, and Nomura Securities; and Sean Conroy, whose 10 years of experience in MBS includes both buyside and institutional sales experience. Conroy was most recently with Nomura.
Gaziano brings over 20 years of trading experience to BNY Mellon. He was with firms Wells Fargo, Citigroup and Morgan Stanley.
Other members of the MBS trading team moving to BNY Mellon include Nathan Baruch, previously with KeyBanc Capital Markets and UBS Securities; Bruce Graham, who has over 20 years of experience that includes time at BNP Paribas and Nomura; and David Rios, who holds a PhD in statistics from Columbia University and whose over 12 years of MBS experience includes stints at Cantor Fitzgerald, BNP, Nomura and Credit Suisse.
Meanwhile, Mulholland brings about 20 years of trading experience to the firm, most recently with RBC Capital Markets. While at RBC, he was on the Treasury trading desk with Avram Altaras, who also has joined BNY Mellon.
“We have significant financial strength during a period when confidence in counterparties is a paramount concern,” said Gary Strumeyer, president of BNY Mellon Capital Markets. “And as part of BNY Mellon, we also have a robust trading platform with extraordinary reach. Our growth strategy leverages both of these competitive advantages, attracting experienced professionals and enhancing our ability to serve clients across the full range of fixed income securities.”