Sell Side

Muni Banker Garvey Joins Orix

DALLAS — Orix USA, a Dallas-based financial services and investment firm, has hired veteran municipal banker Andrew Garvey as managing director, the company said.

Garvey will source municipal loans, leases, and securities of $2 million to $50 million for Orix's account and help expand the company's municipal restructuring business, said Cliff Weiner, chief executive of municipal finance.

"Under Garvey's leadership, Orix plans to be more directly engaged with small issuers of non-bank-eligible paper in 2011," Weiner said. "We will also be active with our capital and restructuring expertise in distressed situations."

Garvey was previously with Cain Brothers as managing director of capital markets.

Garvey has more than 25 years of experience in public finance and has worked for Morgan Stanley, Lehman Brothers, and Paine Webber. He earned a bachelor's degree from Colgate University and an MBA from Harvard.

"I expect to expand Orix's existing trading business via the direct origination of short-to-intermediate-term loans and leases in addition to other structured financings," Garvey said.

As a non-bank financial services and investment firm, Orix holds about $5.8 billion of assets and manages an additional $23 billion through various subsidiaries.

The company moved its U.S. headquarters to Dallas from New York in 2003 and has since acquired the international investment bank Houlihan Lokey Howard & Zukin and the hedge fund advisory firm Mariner Investment Group.

Orix has more than 1,400 employees, and additional offices in New York, Los Angeles, Columbus, Ohio, and Minneapolis.


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