New York City investment bank CastleOak Securities LP has hired a co-head of municipal finance and two new fixed-income sales professionals.

Manuel Angeles will be the new co-head of municipal finance. Angeles will work alongside co-head of municipal finance Cathy Bell. Angeles has 22 years of public finance experience. He most recently served as director of Raymond James & Associates where he led the firm’s public finance coverage of New York, Connecticut and the District of Columbia.

Previously Angeles worked at Lamont Financial Services Corp., PricewaterhouseCoopers and Lehman Brothers.

CastleOak’s muni finance unit offers underwriting, fixed-rate products, variable-rate securities and financial advisory services. The firm works in both the primary and secondary markets. So far in 2012 it has been the 37th largest co-manager of long-term bond issues sold nationally.

“CastleOak is an established and well-capitalized [minority-owned] firm with a stellar reputation in the corporate and taxable fixed-income markets,” Angeles said. “The principals at CastleOak, including the chief executive officer David Jones, have made a strong commitment to the municipal finance business by hiring experienced and seasoned banking, underwriting, and sales and trading personnel. Overall, CastleOak represents a very unique and stable platform which will enable us to add value and effectively serve both our issuer and investor clients.”

CastleOak has also hired Susan Schiefelbein as managing director and Margaret Ullman as director of fixed-income sales.

Schiefelbein will work out of the CastleOak office in Los Angeles. She most recently was a vice president with a responsibility for institutional fixed-income sales at Bank of America Merrill Lynch. Earlier she worked in institutional fixed income sales at Liberty Capital.

Most recently Margaret Ullman was a director of credit sales at Aladdin Capital Management. There she focused on high yield, domestic and Canadian accounts. Before that she held posts at Credit Suisse, including director of fixed-income securities.

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