CHICAGO — Long-time Chicago public finance banker Doug DeAngelis has left Fifth Third Securities to join Hutchinson, Shockey, Erley & Co., where he will be the firm's national director of public finance and head of the Chicago public finance office.
The move marks the reopening of Hutchinson's Chicago public finance office and is part of the firm's larger effort to boost its national presence as an underwriter on negotiated deals.
DeAngelis starts March 9.
Hutchinson briefly closed its Chicago banking office last year after its three public finance bankers left, though the office continued to house sales and traders. DeAngelis will be the sole banker in Chicago for now, but the firm aims to hire more bankers and support staff there, said President and CEO Tom Dannenberg.
"This is a chance to rebuild the Chicago office and take it in a new direction," said Dannenberg. "He will be an active producing banker and focus on the Illinois market," he said. "Doug's also going to provide a unified focus and the experienced leadership to help develop a more comprehensive approach to the public finance markets."
Dannenberg had been the firm's public finance national director before the DeAngelis hire.
In addition to bulking up its Illinois business, Hutchinson wants to boost its presence in the negotiated deal side of the business, Dannenberg said.
"Over the years we've made great strides in the competitive underwriting space," he said, noting the firm has been among the top 10 competitive underwriters by volume nationally for the last few years. "Our goal is to bring the negotiated side of the business up to par with the competitive side." In joining Hutchinson Shockey, DeAngelis returns to where he started. He began his public finance career in 1991 at the firm as a muni analyst. From there he moved to Mesirow Financial, Inc., then to NatCity Investments Inc. before spending nearly 13 years at Fifth Third, where he was a managing director before jumping to HSE.
Hutchinson has 18 public finance bankers in offices across the country, including four in Michigan, four in Milwaukee, and four in Houston. Additional bankers work in Denver, California and New Mexico, Dannenberg said.
