Knight Capital hired several former MF Global mortgage credit sales and trading experts including Michael Corsi as managing director in mortgage sales and Rus Margolin as managing director in non-agency trading.
Corsi reports to John Welde, who is managing director and global head of structured product sales. Welde is charged with growing the firm’s structured products business.
Meanwhile, Margolin reports to the co-heads of Knight’s institutional fixed-income business, Al Lhota and Bob Lyons.
Miguel Vazquez and Doug Adelman were also hired from MF Global as directors in non-agency trading. The two – along with two other employees Niraj Bhanderi and Rishi Sanga, who were recently moved to Margolin's group – will report to Margolin.
The new hires expand Knight Capital's team that focuses on mortgage credit market making. Knight is planning to make more hires in this area. The expansion is actually part of a larger effort to grow its structured products business.
Knight serves firms that have fixed-income sales and trading in the U.S. and Europe. It covers U.S. and European credit, emerging markets and ABS/MBS.
The firm's offerings include global market making, institutional sales and trading, and electronic execution services.