Career moves

The departure of four attorneys marks the second group exodus in Texas this year for Orrick.

Jack Brofman will start at the University of Chicago July 17 as executive director of global treasury operations.

"We're looking to grow our team in various parts of municipal practice and it was time to really add a banker in the Midwest," Janney's head of public finance, Vivian Altman said. "We see a lot of potential in the Midwest."

Molloy will be leaving the banking giant for the nonprofit sector. Dan Tomson and Paul Creedon, co-heads of public finance, will be taking over his responsibilities.

Gambone, who has 30 years of experience in the municipal finance industry, replaced retiring head of public finance Eileen Solla-Diaz.

Nathan Flynn will focus on coverage of Midwest and Southeast borrowers and provide an assist on structuring and project financing more broadly, Siebert said.

The choice of PFM's Jill Jaworski for the CFO position drew praise from the outgoing CFO and market participants who are watching closely to see whether the city stays on track with fiscal progress that has drawn more than a dozen rating upgrades across credits.

The Jacksonville office is the firm's first in Florida and 28th location in the United States.

Transition committee members include several names familiar to the public finance community including Martin Cabrera, head of Cabrera Capital Markets, a majority Latino-owned investment banking firm, and Richard Price, executive chairman of Mesirow, which also does public finance banking.

A John Miller-less speculative bond market may mean more diversification and price transparency, say some investors.