Investment bank and asset manager Brean Murray Carret & Co. hired Scott Buchta as its head of fixed-income strategy as the company expands in bonds.

Buchta was among 20 workers fired in August by Sandler O’Neill & Partners, which is retrenching amid a slump in trading and mergers and acquisitions, Reuters reports.

The New York-based Brean Murray hired former Gleacher & Co. executives Robert Fine and Robert Tirschwell earlier in the year to build its fixed-income business. Fine oversaw mortgage bonds, asset-backed securities and interest rates at Gleacher, while Tirschwell was head of trading. Their exits led to the departure of half of Gleacher’s 70 employees, according to Reuters.

Buchta previously headed investment strategy at Braver Stern Securities and Guggenheim Securities, after 20 years at Bear Stearns, which he left in 2008 after its purchase by JPMorgan Chase (JPM).