Independent fixed income broker-dealer Amherst Pierpont Securities has hired Erez Biala as managing director and head of structured credit trading and origination.
Biala will establish the firm's structured credit trading and origination platform and lead Amherst Pierpont's efforts to capitalise on what it sees as current market opportunities in the collateralised loan obligation (CLO) and related structured credit markets.
Biala will be responsible for leading Amherst Pierpont's growing presence across the CLO and structured credit markets, including both primary issuance and secondary trading.
He joins Amherst Pierpont following a 15-year fixed-income career with extensive securitised products, structured products and CLO/CDO trading and origination experience. In his most recent position as managing director and global co-head of CLO/CDO trading and origination at Jefferies, Biala launched the firm's CLO/CDO platform and originated more than 40 new issue transactions while trading all types of CDOs.
He has previously held structured products trading and origination roles at Barclays Capital, Lehman Brothers and Morgan Stanley.
"Erez brings substantial industry experience and a proven record of developing successful CLO trading and origination platforms to Amherst Pierpont," says Mark B Werner (pictured), chief executive officer of Amherst Pierpont Securities. "The addition of Erez to our senior team provides one more point of connectivity to our clients. We are excited to welcome him to the firm."
"I am thrilled to join Amherst Pierpont and have the opportunity to build a leading structured credit business to complement the firm's existing world-class fixed-income capital markets franchise," says Biala. "By thinking creatively and using capital wisely across Amherst Pierpont's primary and secondary CLO businesses, we will work with clients to help drive their businesses forward and achieve their strategic goals. Establishing and growing a CLO trading and origination platform will position Amherst Pierpont to continue to provide insight, actionable trade ideas and high-touch, value-added service across its broad set of products and clients."
