Chicago Trading Company to open New York office

Chicago Trading Company (CTC) is to expand its credit business with a focus on high yield and distressed credit with CTC Alternative Strategies, based in New York and opening in early 2021. 

The news comes as the firm announces new hires across its credit business. 

Bill Schatz will be joining the firm as a Senior Credit Analyst, where he will lead credit analytics, and focus on distressed and special situations. Schatz joins CTC from CarVal Investors, where he was a senior member of the North America distressed and special situations team. Prior to CarVal, Schatz was a Managing Director at Intermarket Corporation. 
 
Schatz will start with CTC in November 2020 and will join Senior Portfolio Manager Rich VanderMass, who joined the firm in June. VanderMass joined the firm from Morgan Stanley, where he served as a Managing Director leading the company’s distressed and special situations trading business. Both Schatz and VanderMass will be based in New York in early 2021.
 
The firm also recently hired David Herrmann as a Senior Portfolio Manager in the firm’s Chicago office, focusing on investment grade credit. Herrmann joined from Morgan Stanley where he served as Executive Director, leading Institutional Fixed Income Sales in Chicago.