Cantor Fitzgerald adds new head of high yield trading

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Cantor Fitzgerald adds new head of high yield trading

Cantor Fitzgerald has hired a veteran bond trader from Macquarie Group as the New York firm seeks to refill a few seats recently vacated on its credit trading team. Brian Hannon began with Cantor as a managing director last month.

Hannon spent the last six years working at Delaware Investments, a member of Macquarie Group that specializes in equity and fixed income sales and trading. He’s joined Cantor Fitzgerald at a key time for the firm. Deutsche Bank poached former Cantor trader Drew Meaney to join its high-yield trading division in New York at the end of last year. And earlier this year, Cantor lost veteran distressed-debt trader Rohit Bansal, who left to join credit fund Marathon Asset Management. Finra records confirm Hannon’s arrival at Cantor Fitzgerald, which didn’t immediately respond to a request for comment.

Prior to his tenure at Macquarie, Hannon worked as a high-yield credit trader at a number of firms, including Jefferies, BNP Paribas and, most recently, Mitsubishi Securities. High-yield and distressed credit trading has been a bit of a merry-go-round over the last year in particular – in both New York but especially in Europe. Last summer, one headhunter said that around 40% of Europe's leading sell-side high yield risk takers were out of action, providing plenty of opportunities for those who were active and open to changing firms.

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