CHICAGO -Chicago-based Mesirow Financial has hired veteran bond underwriter Stephen "Jay" Murphy to bolster its municipal desk.
Murphy is joining the firm's Chicago office as a managing director and senior municipal bond underwriter working in the firm's institutional sales and trading department, the firm announced.
Murphy will be responsible for the pricing and distribution of all senior and co-managed tax-exempt and taxable municipal bond transactions.
"Jay's knowledge, experience and energy lifts our municipal efforts to another level," Dominick Mondi, president of Mesirow Financial Capital Markets, said in a statement announcing the hire.
Over his 34 years in the municipal business, Murphy has worked on developing and implementing marketing and distribution strategies for some of the largest and most frequent borrowers, Mesirow said.
Prior to joining Mesirow, Murphy was a managing director and syndicate manager for Guggenheim Securities and Stone and Youngberg, where he managed the creation and development of new issue underwriting capabilities for both firms. He previously worked at Goldman Sachs where he spent 28 years and served as co-head of the syndicate desk.
Murphy joins a department with more than 150 employees with desks specializing in municipals, rates, corporates, preferreds and non-agency mortgages. Mesirow ranked 53rd among senior managers last year nationally with 33 deals valued at $401 million, according to Thomson Reuters.
