Last week, Tradition announced that Brian Modlock, recently hired from MIS Brokers, will run the its newly created European high-yield cash desk. The intention to offer high-yield and crossover credit derivatives products on the European desk will be an extension of this new business area. The broker already offers high-yield services in Asia and the US.
Abdalla Bachu and James Tabor have both moved within Tradition to the high-yield cash desk. Bachu is a CDS specialist while Tabor comes from the credit repo desk. Darren May will also man the desk. He comes from MIS Brokers.