CHICAGO - Chicago-based investment firm David A. Noyes & Company has hired veteran Indiana banker Tom Enright to launch a muni underwriting business in the Hoosier state.

Enright comes to the firm with more than 30 years of experience in the Indiana municipal market. He spent the bulk of his career - 25 years - at City Securities Inc., one of Indiana's top firms.

"We are going to be actively growing the business with sales and banking," said Enright, 55, whose new title is senior vice president, head of municipal bond division. He's a trading and underwriting specialist and will be based in Indianapolis, as he has been throughout his career.

Noyes is currently limited to retail brokerage, and Enright will be focused on expanding into the primary markets, including K-12 and local governments, he said. "We're going to be doing our best to get involved in every aspect of the market," he said.

Enright will report to Robert Welch, senior managing director of the firm's capital markets division.

"Tom is a high caliber professional with an impressive experience in municipal bonds," Welch said in a statement. "His hire is a strategic addition to our team."

Welch said that Noyes plans to expand its fixed-income business by expanding the firm's revenue, adding muni bond capabilities and provide small municipalities with "the level and service they cannot obtain from larger Wall Street firms."

Prior to City Securities, Enright was Manager of Indiana Municipal Bond Operations at Raymond James and Manager of the Municipal Bond Department of Reffensperger Hughes and Company Inc.

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