Cantor Fitzgerald & Co. promoted Carmine Urciouli and Martin Teevan to co-heads of global credit.
Cantor Fitzgerald established a presence in high yield and distressed sales, trading and research across bonds and bank debt.
“The integrated solution approach to credit is highly important at a time when more names seem to trade in the grey area between high grade, high yield and distressed sectors,” Teevan and Urciuoli both said. “This is an appropriate time to recognize outstanding professionals whose performance and increasing responsibilities are key to driving the expansion of our business."
Cantor also announced the following promotions. Mike Brennan will become head of high yield sales. Brennan has 15 years of high yield experience at UBS and Credit Suisse. Brennan will be responsible for coordination of account coverage across the firm's client base.
Brian Devaney is now product manager, capital markets. Considering the firm’s expansion into investment banking, Devaney will be the point person in coordinating dialogue between high yield and distressed sales and trading and its leveraged finance banking team.
Jeremy Goldman is now head of distressed sales. Goldman will now be responsible for coordinating the marketing of the firm's ideas and product among the distressed and special situations client base.
Adam Vengrow becomes cross asset trading product manager. Vengrow has been a senior high yield debt trader at the firm. John Hanauer has been promoted to head of U.S. investment grade trading. Before Cantor, Hanauer was managing director at UBS Securities where he traded credits across the curve.
“The strength of the global credit business and our commitment to the continued expansion in this spaces makes these moves necessary," Shawn Matthews, CEO of Cantor Fitzgerald, said. "We plan to add a substantial amount of key personnel with an emphasis on continuing to drive our global footprint outside the United States. Accounts are requesting that we develop and grow our customer facing platform and we are responding to their needs. Our goal is to be the best client facing broker dealer across the capital structure.”
“Cantor is uniquely positioned to capture further market share in the credit markets,” Urciuoli said. “Our investment grade business has grown substantially in the last 12-18 months, and together Marty and I are confident of building our client-facing business. The investment grade platform boasts one of the largest global distribution networks in the space and coupled with our new hires Cantor is a true end-to-end solution in the credit space”
“I am proud of the high yield and distressed bond and loan team that Cantor has assembled in the U.S. and Europe,” Teevan said. “Our strategic hires across sales and trading and research continue to be focused on enhancing our client relationships and ability to offer ideas, insight and execution second to none.”