Ex-Citadel Bank Traders Join Sterne Agee

Oct 11 2011 | 12:10pm ET

Investment bank Sterne Agee & Leach has hired a team of credit traders from Citadel Investment Group's now-much-reduced investment banking effort.

The 10-person team, led by Andrew Rochat, Scott Shiffman and Jon Walker, started at Birmingham, Ala.-based Sterne Agee this month. The group, which is primarily based in New York with one member in Citadel's hometown of Chicago, will trade investment-grade debt.

"These hires are a continuation of Sterne Agee's significant investment in the expansion of our fixed-income platform," head of credit Eric Needleman said.

Rochat, Shiffman and Walker worked at Lehman Brothers and Chapdelaine & Co. before joining Citadel in February, when Chapdelaine shuttered its credit unit. Citadel, in turn, slashed its own debt-trading effort at its Citadel Securities unit in August.

The three men are joined by John Finnegan, Allen Oppici, Michael Rand, Helen Shannon, Andrew Simons, Mac Sutherland and Bobby Treacy.

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