McDonnell Investment Management LLC of Oak Brook, Ill., has hired Michael Herzig, a Deutsche Bank AG executive, as a managing director in its newly established New York office.
Mr. Herzig will lead sales and client services for McDonnell's alternative credit strategies business unit and will help direct the firm's product development and strategy committee, the company said Monday.
In addition, he will sit on McDonnell's management committee and will report directly to Edward Treichel, its president and chief executive officer.
Mr. Herzig was a managing director at Deutsche Bank in New York for nine years. Most recently he was co-head of its U.S. collateralized debt obligation business.
McDonnell and Deutsche Bank have worked together on a number of transactions over the last several years. Deutsche acted as the underwriter for three McDonnell transactions worth $1.6 billion, as well as for over $2 billion of long-term financing for McDonnell's loan opportunity fund.
McDonnell had $12 billion of assets under management at yearend.
