Anand K. Bhattacharya, a managing director and manager of fixed-income research and product management at Prudential Securities, resigned last week.
Mr. Bhattacharya, 38, who has been with Prudential for eight years, was hired as a managing director at Imperial Credit Industries Inc., a large mortgage company in Torrance, Calif. He will work at the holding company level and will be responsible for portfolio and risk management, along with various capital market activities, he said.
"This is motivated by professional and personal reasons," he said. "I've had a great run at this firm."
Mr. Bhattacharya said he is hoping to expand his horizons by working on the business side of fixed-income. "I leave Prudential with nothing but high regard for the firm. This firm has given me a lot of opportunity and a lot of responsibility," he said.
Mr. Bhattacharya expects to start his new job by the end this month after helping with the transition at Prudential.
"I'm leaving the firm with a fairly stable and seasoned group of individuals," he said, adding that his departure was not part of a downsizing.
"He's been a terrific member of the firm," said Charles Perkins, director of public affairs at Prudential Securities. "He has helped build that department significantly."