PITTSBURGH - PNC Capital Markets Inc. said Thursday that it has hired J. Scott Holmes as managing director and co-head of high-yield finance.
The PNC Bank Corp. unit said it plans to hire more senior bankers for the group.
Mr. Holmes had been a general partner in the private equity group of Charlotte, N.C.-based Veridian Capital Partners. He joins David Unger as co-head of the PNC group; the two will lead junk bond origination and develop the group's investment banking business.
Before he joined Veridian, Mr. Holmes was a principal specializing in high-yield at NationsBanc Montgomery Securities, a unit of Bank of America Corp.
PNC Capital Markets also moved Andrew Einhorn from the private placement group to a newly created position running the high-yield syndicate desk. He remains a managing director. Mr. Einhorn spent 13 years at Chase Securities Inc. in leveraged finance and other areas of investment banking.
Mr. Einhorn, Mr. Homes, and Mr. Unger all report to Timothy Gigliotti, the head of high-yield securities at PNC.