Laurie Whetstone joined Highland Capital Management as managing director and Kieran Brennan was named director, both on the credit specialist's marketing team.
The new positions are part of firm's expansion of its business development team in anticipation of increased opportunities in distressed credit, confirmed Lucy Bannon, a company spokeswoman, in an email.
Ms. Whetstone was a financial adviser for Bernstein Private Wealth Management. Mr. Brennan was a vice president in the U.S. institutional sales and marketing department of Connor, Clark & Lunn Financial Group. Greig McKenzie, chief marketing officer of Connor, Clark & Lunn, did not return a call seeking information about Mr. Brennan's replacement.
"Given the size of the high-yield credit market today, even minor disruptions could create considerable opportunities in the distressed space," said Trey Parker, Highland Capital's co-chief investment officer, in a company news release, adding that the firm's larger marketing team will identify "investors and allocators who understand this dynamic and recognize the need to position capital in anticipation of this opportunity."
Highland Capital manages $14 billion, of which about $2 billion is managed in stressed and distressed credit strategies, primarily loans, Ms. Bannon said.