Deerfield Capital hired a former Pimco high yield bond trader as part of an effort to launch new products and grow its trading capabilities, the Chicago-based asset manager announced Wednesday.
The firm said it hired Mitch Wilner as a managing director and portfolio manager. Wilner was most recently with Pacific Investment Management (Pimco), where he served as a junk bond trader and portfolio manager. Prior to Pimco, he was a senior high yield trader with Northwestern Mutual. He has also worked as a high yield bond trader with Deutsche Bank Scudder Investments.
Deerfield CEO Jonathan Trutter said in a statement that Wilner’s addition will bolster the firm’s high yield bond trading platform and help it launch new products.
Earlier this year, Deerfield agreed to buy $1.8 billion in CLO contracts in a deal to acquire Charlotte, N.C.-based Columbus Nova Credit Investment Management, an investment manager specializing in leveraged loan credit products, from Bounty Investments for $25 million in stock and deferred payments totaling $7.5 million (LFN, March 23, 2010).