Phoenix lands former CREDITEX CDS Broker
Daniel Andrade joins leading New York inter-dealer broker
2006.08.31 : New York – Daniel Andrade has joined Phoenix Partners Group from CreditEx as VP on its single name CDS desk. Andrade brings the Phoenix headcount to 20 of which 16 are brokers.
Phoenix Partners Group, launched in August 2005, focuses on non-commoditised CDS broking. In under a year the company established itself among the top three by volume in Index (2), Banks and Fins, Brokers (1), Agencies (1/2), Utilities, Oil & Gas, and Grocers.
Nick Stephan, managing partner, Phoenix Partners Group commented: “In less than a year Phoenix was running neck and neck with established names such as CreditTrade in certain markets. The Street clearly likes the way we operate which is helping us grow through new markets and expand our team with experienced brokers like Daniel.
“We will be announcing more appointments in due course and are actively seeking more people to fulfil our aggressive plans for growth.â€
The majority of business is currently voice execution however Phoenix has a voice/screen hybrid solution as well as a click based solution ready to be deployed if and when clients want it.
Phoenix Partners Group was founded by former Axiom Global Partners colleagues Marcos Brodsky, Jon Lines, Nick Stephan and Wes Wang.