The Bond Dealers of America has announced its new leadership team — Michael Marz as chairman, Larry Bowden as vice chairman, and Jay J. Hiniker 3d as secretary and treasurer.
The three were elected by the group’s board of directors. Marz, vice chairman of First Southwest Co. in Dallas, replaces Ken Williams, president and chief executive officer of Stone & Youngberg in San Francisco.
Marz has more than 30 years experience in capital markets, asset-based financing, structured products and derivatives. He joined First Southwest in 1993 and has primary responsibility for the firm’s capital markets’ risk management and its structured products group.
He also is a member of the investment committee for First Southwest Asset Management Inc.
Before joining First Southwest, Marz worked as a managing director for institutional fixed income at Bear, Stearns & Co.
Prior to that he was a fixed-income mortgage product manager for Goldman, Sachs & Co.
In addition, Marz was co-editor of “The Handbook of Non-Agency Mortgage-Backed Securities,” along with Frank Fabozzi.
Bowden, executive vice president and manager of fixed-income sales and trading at Stephens Inc. in Little Rock, replaces Jeff Chapman, executive managing director of Huntingon Capital Markets in Columbus, Ohio.
Bowden has been at Stephens for 31 years and has held a number of positions, including institutional fixed-income sales manager and managing director of professional strategies within the private client group.
Hininker, who is president of Cronin & Co. in Minneapolis, is replacing Demetri Patikas, senior adviser to the president at Duncan-Williams Inc. in Memphis.
Starting in 1991, Hiniker has spent his entire career in the fixed securities income business at Cronin, working in the trading and underwriting areas.
The BDA’s top priorities for the year ahead include pushing for legislation to reinstate or permanently extend American Recovery and Reinvestment Act provisions that created the Build America Bond program, raised the small-issuer limit for bank-qualified bonds and exempted private-activity bonds from the alternative minimum tax.
The bond dealers group also is working to help shape rules proposed by the Municipal Securities Rulemaking Board, Securities and Exchange Commission and the Commodity Futures Trading Commission to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
In addition, BDA is monitoring the SEC’s review of the municipal market and the commission’s efforts to help improve muni disclosure.