Janney Montgomery Scott named former Bear Stearns executive Brent Giese to head the firm’s newly created whole loan group. Joining Giese is former Bear colleague, James Stauss.

The move is part of a broader expansion the firm also made three high profile hires in the fixed income sales and trading area.

Giese and Stauss, who were both named managing directors at Janney, will team with existing financial institutions (FIG) professionals to provide comprehensive loan portfolio solutions and execution for clients in the banking sector.

For his 10-year stint at Bear, Giese was a managing director and head of the mortgage origination group. His previous experience includes six years at both UBS and JPMorgan.

Stauss most recently was vice president, institutional sales at Raymond James & Associates. Previously, he spent four years as a managing director at Bear Stearns. Before this, he was at PNC Mortgage Securities and GE Capital Mortgage Corp.

Janney also announced that it has added three veterans to its fixed income sales and trading practice in recent months:

Katrina Griessman was hired as a director, fixed income sales, in Atlanta, GA. Most recently she was with Atlanta-based fixed income boutique Angel Oak Capital Partners. Previously Griessman was at Keefe Bruyette & Woods as senior vice president, institutional fixed income sales and UBS (Paine Webber) as senior vice president, global fixed income sales.

Austin Derris also joined Janney in an institutional sales role. He previously spent coming to Janney after several years on Merrill Lynch’s institutional fixed income sales team. Derris joined the firm as a vice president based in Boston, MA.

Christopher Moses also joined the firm as a vice president in non-agency MBS trading. Moses most recently served as vice president at Bank of America Merrill Lynch. He also had trading roles at Washington Mutual Capital Corp. and The Winter Group earlier in his career.

Janney’s Capital Markets unit has added a total of 55 professionals in the past year, which is equivalent to a net 42% increase.

“Buying and selling loans is a rapidly growing area for regional and community banks and this initiative allows us to further address the needs of our clients in a challenging market with a critical new capability,” said Steve Genyk, managing director, head of fixed income at Janney. “Brent and Jim are two of the industry’s top whole loan experts. They represent the perfect compliment to our existing offerings by providing comprehensive solutions to mitigate loan issues and losses. This new initiative is only part of the aggressive ongoing growth in our fixed income group and in Janney’s capital markets practice in general.”

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