Maxcor creates leveraged finance group

New York, April 18 - Maxcor Financial Inc. announced a new leveraged finance group to provide the full range of high-yield market services.

Heading the group will be Mario A. Monello, Joseph Bencivenga, Ralph DellaCamera and Neil Wiesenberg.

Monello was formerly a managing director at CIBC World Markets, in charge of leveraged finance distribution. He was also president of The Argosy Securities Group and managing director and partner at Lehman Brothers, responsible for high yield.

Bencivenga was formerly a managing director at Barclays Capital overseeing global high yield activities. Before that, his positions included co-head of fixed-income research at Salomon Brothers and Drexel Burnham.

DellaCamera was previously head trader and global risk manager for Elliott Associates LP.

Wiesenberg was previously a managing director at CIBC World Markets responsible for origination and execution of leveraged financings including buyouts, growth financings and restructuring transactions.

Maxcor Financial, the broker-dealer subsidiary of Maxcor Financial Group Inc., said the creation of the leveraged finance group, adding investment banking and trading to its services, its part of the company's growth plan and ongoing diversification strategy.

The new group will be involved in all aspects of leveraged finance, including high yield private placements and public underwritings, sales, trading and research, Maxcor said. It will also provide financial advisory services such as merger and acquisition and restructuring advice.

"Today's markets offer an excellent opportunity for Maxcor to introduce a market-tested leveraged finance team capable of providing personalized attention, technical expertise, and, most importantly, conflict-free advice, all to the highest standard of client service. We are delighted to have assembled this talented group of professionals to drive the effort forward," said Gilbert D. Scharf, chairman and chief executive officer of Maxcor Financial Group, in a news release.

Maxcor Financial Group already acts as an inter-dealer broker through its various Euro Brokers activities and is involved in electronic trading platforms through Tradesoft Technologies, Inc.

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