Piper Sandler adds distressed debt, special asset group to Fixed Income platform

Piper Sandler (PIPR) Companies announced the additions of John Mori and Eric Friel as managing directors to lead a new group that will focus on distressed debt and special assets. Mori will be based in Greenwich and Friel will be in New York, both reporting to Michael Piper, head of fixed income at Piper Sandler. The distressed debt and special asset group will source and trade specialized credit products, including distressed assets, trade and insurance claims, reorganized equity and other securities issued by companies facing financial stress, including default or bankruptcy. Additional new hires will be announced in the coming weeks and months. The group will also work in partnership with the firm’s investment banking, capital markets and restructuring teams.Mori and Friel join the firm from Oppenheimer & Co., where Mori was co-head of distressed debt and Friel was head of high-yield and distressed research.