TD Securities has hired Derrick Herndon as managing director in charge of high-yield sales and trading. Mr. Herndon was previously a managing director in high-yield trading at Bankers Trust Co., where he worked for five years.

Mr. Herndon, who took his new post on Tuesday, will report to Peter Bethlenfalvy, president and chief executive of TD Securities, the investment banking arm of Toronto Dominion Bank. He will work with Mark Grotevant, managing director in high-yield research, and Gordon Paris, a managing director in charge of high-yield origination and capital markets.

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