NEW YORK - ScotiaMcLeod (USA) Inc., a unit of the Bank of Nova Scotia, Toronto, has created a high-yield capital markets group.

The chief executive of ScotiaBank USA, Larry O'Brien, said the unit of 23 specialists will "capitalize on the synergies created by our parent company's leading position in leveraged lending combined with ScotiaMcLeod's traditional history of leadership in the fixed-income market."

The department is headed by Harrison A. Brubosky, former managing director of Dabney/Resnick Inc.'s institutional high-yield department. The research group is headed by Mariel Clemeson, a former executive at Lehman Brothers, Citicorp, and Donaldson, Lufkin & Jenrette.

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