E&Y Broker Dealer to Focus on Loans
August 19, 2010
Accounting giant Ernst & Young’s new broker dealer group, Ernst & Young Capital Advisors, will handle leveraged loans but not high yield bonds, the company confirmed Thursday.
Ernst & Young announced it had formed the group, a new broker-dealer, to offer more services. It will provide capital structure advisory, capital raising, restructuring and special situations finance to middle market companies, creditors and other investors.
Peter Sherman, a senior managing director, leads the group’s capital markets and structuring work. He is a veteran of Bank of America Merrill Lynch’s leveraged finance, special situations finance, restructuring and investing groups.
Also joining the group from Bank of America are Robert “Bo” Powell, whose focus has been restructuring, loan syndications, M&A and principal investing; and John Murchison, who focuses on restructuring, loan syndications and principal investing. They are joined by K.C. Brechnitz, who joins from Wachovia and focuses on restructuring, loan syndications and high yield capital markets.
The team is based in Charlotte, N.C.
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