Moelis & Company has hired a managing director from Broadpoint Securities for its restructuring group as the advisory continues boosting its presence to take advantage of a rising number of companies either in default or close to it.

Mark Hootnick, who was most recently at Broadpoint Securities, is at least the second managing director Moelis has hired for the restructuring division since the start of the year. In January, Moelis hired Dominick Petrosino, the former head of leveraged finance capital markets at Bear Stearns.