Jefferies, the investment bank and institutional securities firm, hired a team of three fixed income pros from Wachovia Securities to cover emerging markets in the firm's Bonds Direct division.
Jefferies hired F Erich Bauer-Rowe as a managing director and trader to head the group. Also hired were Charles Cortellesi, who will head the sales effort, and Miguel Santiago. Santiago is a managing director of sales for the group. They will be based in New York.
The group was brought on to grow Jefferies' presence in fixed income by adding expertise in emerging markets. The team is the core of Jefferies' emerging markets coverage, said Lee Fensterstock, managing director of the Bonds Direct division.
Jefferies plans to build the emerging markets team to six or eight people, Fensterstock said. There has been demand from investors for Jefferies to expand its fixed income coverage to emerging markets.
Bauer-Rowe, Cortellesi and Santiago were not available for comment.