BNP Paribas has appointed a star debt banker once described as “perhaps the most well-known figure in the high yield world," to its asset management business in the US, as junk bond issuance remains on course to top last year’s lofty levels.

BNP Paribas Asset Management, the US arm of BNP Paribas Investment Partners has named Martin Fridson as head of global credit strategy within its global credit investment team. In his new role he will contribute to build the team's research effort and will frame macro views for the global credit team's mandates, according to a statement.