In his role at Knight Libertas, Mr Dowd will be responsible for US credit sales to increase client growth among mutual funds, insurance companies, pension funds, hedge funds and commercial banks.

Mr Dowd joined Knight Libertas from UBS where he spent a total of 12 years with increasing management responsibilities covering fixed income sales, trading and research in the Stamford office. Most recently, he was head of credit trading and research in the US.

Mr Dowd said: “The quality of the team, riskless principal model and strong fundamental research drew me to Knight Libertas. I look forward to helping make further inroads with institutional firms across a broad range of fixed income securities.”