NEW YORK, Oct 18 (Reuters) - Janney Capital Markets said on Thursday it hired 12 people from MPS Fixed Income for its certificates of deposit and structured product business in its ongoing fixed-income expansion.
The Philadephia-based firm said it appointed Kevin Roche and Jeff Miller to lead its CD and structured product team, which will report to Kevin Reed, Janney's managing director of taxable fixed income.
Roche and Miller will be joined by their 10-person team from MPS. The newly-created group will focus on origination and trading of CDs and structured products, Janney said.
"Although Janney historically has offered CDs and structured products to clients, the expansion into underwriting/origination reflects our overall Capital Markets growth strategy and deepens our existing product and service offering to both our retail and institutional clients," Steve Genyk, head of Janney's Fixed Income Capital Markets said in a statement.
Since the start of the year, Janney Capital has hired about 40 people with a focus on its fixed income business.
Janney Capital is part of Janney Montgomery Scott, a mid-sized brokerage firm and a subsidiary of The Penn Mutual Life Insurance Co.