February 14, 2018 / 9:29 PM / 3 months ago

MOVES-Fifth Third hires Pichler as head of credit sales

Feb 14 (Reuters) - Fifth Third has hired David Pichler, a former co-head of credit fixed income at Cantor Fitzgerald, to lead credit sales for institutional fixed income.

Pichler, who joined the bank in New York late last year, reports to Mark Brown, group head of fixed income sales and trading.

“David has an immense amount of industry expertise and is a great addition to the Fifth Third team,” Brown said in an e-mailed statement.

The US loan market, which provides debt to companies including retailer J. Crew Group, saw record institutional issuance of US$923.8bn in 2017 driven by refinancing and repricing activity, according to Thomson Reuters LPC data. Issuance in the US high-yield bond market rose 24% in 2017 to US$281bn from the prior year. Secondary loan trade volume also skyrocketed to at least a seven-year high of US$714.8bn last year, according to IHS Markit data.

Pichler joined Fifth Third from FTN Financial where he worked in credit sales, according to FINRA BrokerCheck.

Before that he worked at Cantor, Gleacher & Co., where he was co-head of investment grade fixed income, and RBC Capital Markets where he was head of US fixed income and currencies credit trading, according to news releases. He also worked at Citigroup where he served as co-head of global credit trading. (Reporting by Kristen Haunss; Editing by Michelle Sierra)

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