D.A. Davidson & Co. bulked up its municipal sales group with a new hire.
The brokerage firm brought in Dan Greenwood as senior vice president, institutional sales, to join its municipal bond group. He will specialize in sales and marketing for new issuance, as well as the secondary market.
Greenwood reports to Rick Turnage, head of D.A. Davidson’s fixed income sales team, in the Seattle office.
Greenwood joins a municipal sales group that numbers about 40. Those on the group also have some accounts that also buy taxable paper such as corporate and mortgage-backed credits, a fixed-income sector the firm seeks to expand, Turnage said.
“Dan is someone we’ve known for a long time and just felt from the beginning that he’d be someone who’d be of value to our sales team,” Turnage said. “We’re always looking for other public finance bankers, as well, to enhance our coverage across the country.”
Greenwood brings more than 25 years of experience in municipal trading and sales to D.A. Davidson’s Seattle office. Previously, he was a vice president of municipal sales at Seattle-Northwest Securities Corporation.
Turnage said Greenwood’s hire fits the firm’s view of munis as a strong market. “We’re obviously committed to that market,” he said, “and we’re going to continue to find ways to grow it and look for opportunities.”
Through Monday, D.A. Davidson is ranked 23rd as senior manager in 2012, behind 257 deals valued at $1.51 billion, according to Thomson Reuters numbers. That’s a jump so far from 2011, when the firm placed 29th on 375 issues valued at almost $1.30 billion.
Founded 77 years ago, D.A. Davidson is a wholly owned subsidiary of Davidson Companies, an employee-owned financial services holding company with more than 1,100 employees in 17 states.
The firm headquarters its expanding fixed income group in Denver. Davidson houses its public finance and fixed income sales and trading operations in Seattle and several other cities.