June 6 (Reuters) - Derek Pitts, a senior U.S. restructuring banker at Houlihan Lokey Inc, has decided to join boutique investment bank Peter J. Solomon Co to lead its restructuring practice, Peter J. Solomon Co said on Monday.
Pitts joined Houlihan Lokey in 2000, and has worked on financial restructurings across industries and for companies based in Europe and Latin America, according to an online biography.
“We are thrilled and delighted about Derek Pitts joining us in September,” said Diane Coffey, a spokeswoman for Peter J. Solomon Co.
A spokesman for Houlihan Lokey did not immediately respond to a request for comment. Pitts declined to comment.
Pitts worked on the bankruptcies of electronics retailer RadioShack Corp and teen retailer Wet Seal Inc, according to his biography.
The role leading Peter J. Solomon Co’s restructuring group opened up after restructuring banker Durc Savini moved to Guggenheim Securities LLC, a unit of Guggenheim Partners, earlier this year.
There have been a string of job moves in restructuring, as activity perks up in oil and gas, due to low commodities prices. Retail has also seen an uptick in restructuring, with sporting goods chain Sports Authority Inc and Aeropostale Inc and Pacific Sunwear of California Inc, both teen retailers, filing for bankruptcy. (Reporting by Jessica DiNapoli; Editing by Bernard Orr)