News Releases

Harris Nesbitt, the U.S. investment banking arm of BMO Financial Group, announced today that it has hired Paul Phaneuf and Amil Schiaffino as Managing Directors in its New York-based High Yield Sales, Trading and Research areas.

Mr. Phaneuf, who will head the High Yield Sales and Trading effort, has over 20 years experience in high yield and private placements.  Mr. Phaneuf last worked at Barclay’s Capital where he ran the mezzanine finance and high yield efforts.  Prior to Barclay’s, Mr. Phaneuf was head of High Yield Sales, Trading and Origination at Credit Lyonnais.  Mr. Phaneuf started his career at Drexel Burnham Lambert.

Mr. Phaneuf has an MBA from The Wharton Graduate School of Business and a BS in Economics from Boston College.

Mr. Schiaffino, who will be a senior member of the firm’s high yield research group, has 18 years of high yield and investment grade experience plus an additional nine years of experience as a consultant.  Mr. Schiaffino joins Harris Nesbitt from Scotia Capital where he most recently ran High Yield Research and previously had run High Yield Sales and Trading.  Prior to Scotia, Mr. Schiaffino was head of High Yield and Investment Grade Research at Wertheim Schroder and head of High Yield Research at PaineWebber.

Mr. Schiaffino, who is a CFA, has an MBA from New York University and a BE in Mechanical Engineering from Cooper Union.

“Paul and Amil add significant experience and leadership to our high yield franchise,” said Jim Moglia, Executive Managing Director and head of the firm’s U.S. Debt Products Group.  “The increasing complexity of financing middle market companies, and high yield’s proven value as a device for such financing drives our commitment in this area for the benefit of our growing client base,” he added.

Harris Nesbitt’s High Yield team is part of the firm’s Debt Products Group, comprising more than 25 professionals focused on public high yield and investment grade, private placements of debt and equity, financial sponsor coverage and U.S. financial restructuring.

About Harris Nesbitt

Harris Nesbitt, a member of BMO Financial Group (TSX, NYSE: BMO), is a leading U.S.-based financial services provider offering clients access to a broad range of financial products, including equity and debt underwriting, corporate lending and project financing, merger and acquisition advisory services, merchant banking, securitization, cash management services, research, institutional sales and trading.

About BMO Financial Group

BMO Financial Group – founded in 1817 as Bank of Montreal, Canada’s first bank – is one of the largest financial services providers in North America, offering a broad range of retail banking, wealth management and investment banking products and solutions.  BMO serves clients across Canada and in the United States through its Canadian retail arm, BMO Bank of Montreal; BMO Nesbitt Burns, one of Canada's largest full-service investment firms; Chicago-based Harris Bank, a major U.S. mid-west financial services organization; The Harris wealth management group, and Harris Nesbitt, which provides investment banking services across the U.S.

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