BNP, US high-yield veteran Fridson launching firm

NEW YORK, May 13 (Reuters) - U.S. high-yield bond market veteran Martin Fridson is linking up with BNP Paribas Investment Partners to launch an investment management firm specializing in corporate credit, the group announced on Tuesday.

Fridson, a former head of high-yield strategy at Merrill Lynch, & Co (MER.N: Quote, Profile, Research, Stock Buzz), will serve as chief executive officer and chief investment officer of the firm, Fridson Investment Advisors, according to a statement.

BNP Paribas Investment Partners is the asset management arm of BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz).

Fridson announced last week that he was stepping down as publisher of Leverage World, a high-yield research publication he created after leaving Merrill Lynch in 2002.

Richard Hollander, a co-founder of Fridson Investment Advisors who previously set up several asset management firms, will serve as chairman of the new firm's board of directors.

Thomas Shandell, a founding partner of GoldenTree Asset Management, will serve as chief portfolio manager of Fridson Investment Advisors.

Richard Schweitzer, recently chief operating officer of Metropolitan West Financial LLC, will be chief operating officer and chief financial officer of Fridson Investment Advisors, or FIA.

"At FIA, research will inspire our investment strategy and take center stage," Fridson said in a statement. "We want to develop a company that challenges the transparency issues in the investment world and offers clients more access and more knowledge about our strategy and investment process."

Leverage World will continue publishing independent research under the lead of Christopher Garman, former head of global high-yield strategy at Merrill Lynch. (Reporting by Dena Aubin; Editing by Jonathan Oatis)