Broadpoint confirms CLO and credit trading hires

Broadpoint Capital has confirmed that is has hired two senior CDO specialists to head its CLO sales and trading business, as first reported in Creditflux last week. Managing directors Fred Engel and Philip Orenstein are joining the broker-dealer subsidiary of Broadpoint Gleacher Securities in New York after long careers in the structured credit business.

Engel previously worked in the CDO group at Citi and before that ran the US CLO business of UBS. Orenstein joins from Structured Credit Consultants, an advisory firm. Before that he worked in RBS Greenwich Capital’s structured credit team.

Broadpoint also announced that it has hired credit traders Peter Carril and Jeffrey Byrne. Carril comes on board as a managing director for emerging markets in Broadpoint Capital’s debt capital markets group. He has traded emerging market credit for firms including Palatine Hill Partners, Dresdner Kleinwort and Bankers Trust.

Byrne joins the bank loan trading team after working in this field at Z-Capital Partners and Van Kampen.