CHICAGO — Minneapolis-based Wells Fargo & Co. late last month announced the hiring of Paul Blomgren to serve as a fixed-income strategist in its institutional brokerage and sales group. “We are very excited to have Paul join us,” John McCune, head of the group, said in a statement. “Paul’s background and expertise make him an extremely valuable asset to our team and in helping our customers succeed financially.” Blomgren previously worked at Stifel Nicolaus & Co. as an institutional sales representative. He also has previously worked as a fixed-income trader and a fixed-income analyst during his 15-year career in financial services.Under the structure of Wells Fargo’s brokerage group, salespersons, traders, and analysts often work on both corporate and tax-exempt deals. The firm has been on a hiring spree in public finance since 2006 when its managers said they were seeking to double revenues by 2010.
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Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
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Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
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It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
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Photos from The Bond Buyer's Texas Public Finance conference.
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The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
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"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
April 25