CHICAGO — Indianapolis-based City Securities Corp. has hired former Raymond James | Morgan Keegan banker and group manager Linda Matkowski to manage its public finance banking team as the 86-year-old firm seeks to expand its reach deeper into the Midwest.

Matkowski, an executive vice president, will work out of the firm’s headquarters. She will manage seven bankers and one analyst located in the firm’s Fort Wayne and Indianapolis offices.

The larger fixed-income capital markets group at the state’s largest and oldest independent full-service investment firm includes five individuals in the municipal trading and underwriting group, five institutional traders and another two in taxable and fixed income.

The position as manager of public finance banking activities is new, its creation driven by the firm’s growth plans, said spokeswoman Jenny Peters.

“Public finance has always been at the core of our business at City Securities, and we’re proud that we’ve financed more Indiana school projects than anyone in history. Linda’s vast experience with Illinois schools broadens our reach and depth. With Linda at the helm, we’re poised for growth, not only in Indiana, but across the Midwest,” chief executive officer Mike Bosway said in a statement.

The former Raymond James & Associates hired Matkowski in 2010 to lead an expansion of its Midwestern general government group. Matkowski joined Raymond James from PMA Securities, where she had worked for five years and managed the firm’s public finance expansion.

She has banking experience across the general government, schools and health care sectors in previous positions at Harris Bank, now known as BMO Capital Markets, the former LaSalle Capital Markets, and Wells Fargo Securities.

City Securities ranked 43rd last year as a senior manager nationally and finished 22nd among senior managers in the Midwest. Raymond James finished 9th nationally and 16th in the Midwest, according to Thomson Reuters.

Matkowski, who could not be reached for comment Friday, is the third banker to leave Raymond James’ Chicago office in recent months and the latest in a series of departures nationally since the firm closed on its union with Morgan Keegan & Co. this past spring.

Omar Daghestani and Jeremy Newtson left the Chicago office this past spring to join Stifel, Nicolaus & Co.  Two longtime Raymond James bankers, Tom Chapman and Linda Rau Byron, remain in the firm’s Chicago office. Raymond James | Morgan Keegan declined to comment on Matkowski’s departure or future plans for the office.

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