Career moves

Kullmann will head the firm's negotiated underwriting desk. 

Hilltop currently ranks 19th year-to-date among managing underwriters of municipal bonds, underwriting $1.2 billion in 53 issues.

Dan Aschenbach and Namsoo Lee created Municipal Financial Solutions Associates to help utilities manage the changing economic and regulatory landscape.

Compensation played a role in the departures, sources said.

The well-known muni strategist said he's pursuing "more market-related opportunities."

The Boston-based Nixon Peabody added seasoned municipal finance expert Michael Melzer as a partner, while Barclays lost three professionals.

Mary Simpkins, who joined the SEC's Office of Municipal Securities in November 1997, is retiring.

The departures happened around the time Barclays handed out companywide bonuses and coincided with the firm in the process of shrinking its muni footprint in the regions, according to sources.

The state treasurer is seeking someone willing to take the role on a permanent basis.

Firms like Siebert Williams Shank and Huntington have begun stacking their benches with municipal finance talent amid tax exemption uncertainty.