GrizzlyRock Capital, an alternative asset management firm which specializes in the credit and equity markets, has expanded its management team by hiring Chris Ricciardi as managing partner and head of business development, and Doug Laux as new chief financial officer.

Saidal Mohmand, vice president of investment research at the firm said that Ricciardi and Laux will work together with Kyle Mowery, who founded GrizzlyRock in 2012.

Prior to joining GrizzlyRock, Ricciardi has served as director of strategic relationships for Altegris Investments, where he was responsible for distributing private and public investment solutions to professional investors, wealth managers, banks and financial services platforms. Also, he has co-founded Herron Capital Management.

Previously, Laux has worked for 20 years at Ernst & Young in Chicago, where he served as a partner for nine years. Earlier to this, he also served as CFO for several firms, including ANC Rental, the holding company for Alamo and National Car Rental.

Laux has extensive knowledge of private and public companies, balance sheet and operational restructuring, initial public offerings, bankruptcy situations and mergers and acquisitions.