Maxim Group LLC, a boutique shop with offices in New York and Chicago, has hired Rocco Capoccia, Armand Pastine and Brad Young away from Williams Capital with plans to start an institutional fixed-income trading operation. All three will be managing directors in the institutional fixed-income group. The trio had been at Williams since mid 2002. With roughly 350 employees, Maxim group focuses on asset management, wealth management, investment banking and institutional sales.

Bear Stearns recently hired Mustafa Chowdhury as a managing director and interest rate derivatives strategist in its financial analytics and structured transactions (FAST) group. Chowdhury previously worked at Freddie Mac as vice president of asset and liability management. Published reports said Chowdhury left in October last year.

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