Bear Stearns is making the most of the flight of capital to credit markets by hiring four fixed income sales staff for its London-based capital markets business.

The highest profile hire is that of Herbert Schaedler, who has been recruited from Dresdner Kleinwort Wasserstein, where he ran the sales team for German banks. At Bear Stearns, which he joins as a managing director, Schindler will head the German sales team across the entire fixed income product range.