 After Mitchell Hutchins was acquired by Paine Webber in 1977 he left with his trading group to Scandinavian Securities where he worked ultimately as an assistant vice president.In 1980 he went to Paine Webber's Jackon Curtis arm as a vice president in credit research and fixed income investment strategy.In 1981 he joined Salomon Brothers as a Vice President focusing primarily in credit research continuing to take a high interest in the high yield debt world.