MOVES-BNP Paribas boosts high-yield team

LONDON, May 8 (IFR) - BNP Paribas has made two hires to its recently revamped high-yield team, according to a source familiar with the situation.

Steve Snizek, who joins from Barclays, will become head of high-yield bond flow trading for Europe, Middle East and Africa. He replaces Michael Wheeler, who left the French bank at the end of March.

James Connolly is also joining BNPP and will be responsible for par leveraged loan trading, EMEA. He arrives from Commerzbank and replaces Paul Mehta.

Both will report to Matthew Smith, who joined in March as head of the bank’s newly-merged European high-yield bonds, par loans and distressed trading business.

Snizek and Connolly are expected to join BNPP in August. (Reporting by Yoruk Bahceli; editing by Sudip Roy, Julian Baker)