Noyes Adds to Municipal Team

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CHICAGO – Chicago-based Daniel A. Noyes & Co. has added three institutional sales professionals to its fixed-income team in Indianapolis, a move the firm believes cements its expansion into municipals.

The three are John Franz and Rick Hursh, who joined the firm earlier this month as senior vice presidents in the institutional fixed income sales group, and Sandy Garrett, an associate.

The three formerly worked together at City Securities in Indianapolis where Noyes' capital markets group is based.

"John and Rick bring a wealth of fixed income sales and trading knowledge and relationships to Noyes," said Robert Welch, Jr., senior managing director of capital markets at the 108-year-old investment banking and wealth management firm.

The three will work alongside former City Securities colleague Tom Enright, a senior vice president and fixed income underwriter, and Michael Geraty, a senior vice president in fixed income trading.

"Together with investment banker Mark Moore, the Noyes team possesses more than 150 years of collective experience in the municipal bonds sector," Welsh said.

The retail brokerage first branched out into municipal underwriting with the 2015 hiring of Enright, a trading and underwriting specialist. Later in the year, it brought its first public finance banker on board with the hiring of Mark Moore, who previously was a partner at Faegre Baker & Daniels LLP and had previously served at the state's public finance director.

With the addition of institutional sales professionals, Welch said the firm now has solid distribution, banking, and underwriting capabilities. It's increased its bidding on both primary and secondary market paper of late and is working on winning negotiated business in the middle markets, hoping to land its first deal in the coming months.

"The missing piece was key players in institutional sales," Welch said. "I think now that all four wheels are on the car we can really move forward." The firm could also use additional sales professionals and bankers, he added.

Welch said he pursued the three, luring Hursh from retirement and the other two from City, which was acquired by Stifel Financial Group last September.

"The possibility to work for a respected firm like Noyes and putting the team back together was an opportunity that I just could not pass up," Hursh, a 30 year veteran of municipal sales, said of his decision to return to work.

"The capital markets group's talented management, experienced traders and underwriters, as well as the firm's outstanding reputation were among the factors that compelled me to join Noyes," said Franz, who worked at City for 15 years.

Garrett spent 32 years at City Securities where she focused on operations for twelve years before moving to the private client group for four years.

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