R. Seelaus & Co. Brings Aboard Muni Veteran

R. Seelaus & Co., a financial services firm based in Summit, N.J., has enticed municipal market veteran Steve McLaughlin to return to the trading and high net-worth-sales side of the industry following a move into research.

McLaughlin is now an executive director and portfolio manager at R. Seelaus. Formerly, he was a managing director at the independent research firm Municipal Market Advisors, based in Concord, Mass., where he worked for about five years.

At R. Seelaus, McLaughlin does fee-based portfolio management for separately managed accounts, as well as trading and sales.

“I’m responsible for growing the SMA municipal business, as well as trading and selling institutionally,” he said. “So, three hats.”

R. Seelaus has been bulking up its institutional municipal and corporate sales businesses, encompassing investment advisors, mutual funds and insurance companies, according to Bernard Garruppo, a managing director who heads the muni bond department at the firm. McLaughlin’s purview straddles both retail and institutional muni groups.

“Adding Steve was a perfect fit for us, given his many years of sales, trading and investment advisory work,” Garruppo said. “He’s a natural fit for us.”

MMA hired McLaughlin to lead its customer relations functions. Before that, he was a vice president and head of institutional municipal bond sales at Bank of New York Capital Markets, now BNY Mellon Capital Markets, in New York. McLaughlin also worked at First Union Capital Markets, now part of Wells Fargo, as well as JPMorgan.

Most of McLaughlin’s experience has centered on the sell-side, where he has focused on sales and trading, underwriting, and banking at both large and small firms. In all, he has 23 years of experience in the fixed-income markets.

R. Seelaus & Co., Inc. opened its doors in 1984 as a firm that focused on the fixed income markets. It houses four trading desks with fixed-income inventory comprising municipal and corporate bonds, collateralized mortgage obligations and U.S. government agency debt.

R. Seelaus has grown into a full-service financial firm that helps high-net-worth individuals and businesses plan and invest. It also provides services for large institutions throughout the country.

The firm has offices located in New Jersey and Massachusetts.

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