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(Bloomberg) -- Companies sold a record volume of leveraged loans last month, taking advantage of the cash chasing credit. A glance at recovery rates for defaults, however, highlights a growing risk in this debt. Most Read from BloombergHomebuyers Are Starting to Revolt Over Steep Prices Across USWall Street Billionaires Are Rushing to Back Trump, Verdict Be DamnedModi Set for Landslide Election Win in India, Exit Polls ShowSaudi Arabia Puts Wall Street on Notice to Set Up Shop in RiyadhTrump Is

Last year, UBS was poaching Barclays' people. This year, UBS is still poaching Barclays' people, but so is this billionaire.

Canadian Imperial Bank of Commerce has hired Brad Aston, a veteran of nearly two decades at Barclays, as the global head of leveraged finance in its capital markets unit, according to a memo seen...