William Hayden, former managing director of public finance at JPMorgan, has been hired by PNC Financial Services as the Pittsburgh bank expands its municipal practice.
Hayden left JPMorgan on April 7 and "will be beefing up PNC's expanding role in public finance," according to press release issued by his public relations representative. A PNC spokesman confirmed the hire, saying details on his title and role aren't available.
"I hope to continue the many relationships I have," Hayden said in an interview.
Robert Dailey, senior vice president and head of public finance, told The Bond Buyer in February he was taking advantage of hiring opportunities as they arose in an effort to integrate and expand investment banking throughout PNC Bank's 19-state footprint along the Eastern seaboard and in the Midwest.
PNC hired Warren "Bo" Daniels Jr., David Fischer and Matthew Roggenburg, public finance managing directors, in February to open offices in the Southeast and New York. Daniels and Fischer will integrate public finance and investment banking with PNC Financial's core banking business, while Roggenburg will develop debt strategies across PNC's public finance business.
Dailey said he was expanding the public finance network in part to catch up with the bank's growth.
Hayden is expected to begin working in both PNC Bank's New York and Florida offices in early July. He oversaw the financing of airports, arenas and stadiums before ending his role at JPMorgan, where he is currently on garden leave.
"I saw a great opportunity with PNC," Hayden said. "It's up-and-coming in all areas of banking. It's a place that will take full advantage of my talents and experiences. Many people didn't expect me to be moving, but the role at PNC suits my abilities very well."
Before joining JPMorgan in 2008, Hayden was a partner at Bear Stearns for 24 years. Prior to that, Hayden worked at First Boston for 10 years as one of the first African Americans in a major firm.
Hayden began his career in finance as head of the Urban Development Corporation, currently known as the Empire State Development Corp., after serving as staff chief of the Commission on Civil Disorders in the 1960s.
