Merrill Lynch Investment Managers has appointed Peter Cannon as its new director of European high yield debt.
Cannon, formerly head of acquisition finance at Lloyds TSB, will take up his new position from August 1. At MLIM, Cannon will be work on the firm's existing high yield fixed income accounts, in addition to working with the team to further develop the product line.
While head of Lloyds TSB's acquisition finance unit, Cannon built up and managed a £2.5bn portfolio of European and US high yield debt. Prior to his stint at Lloyds TSB, Cannon worked for Coopers & Lybrand, where he was a senior manager in its corporate finance team.
David Jacob, MLIM's head of European fixed income, said of Cannon's arrival: Peter's appointment is an important part of continuing our strong commitment to this area. We are delighted to have brought on board someone of Peter's calibre. He has tremendous experience within this area and brings with him an outstanding track record from Lloyds TSB. Traditionally it has been our policy to attract the best industry players. Peter is just such an individual.
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