Title: Vice President, Manager of Municipal Underwriting
Firm: Fidelity Capital Markets
With a natural interest in the financial markets, an undergraduate degree in economics and the fortune of good mentors early in his career, Dan Noonan is well on his way toward his goal of shaping the future direction of the municipal market.
The 36-year-old vice president joined the firm in 2006, but has managed the municipal underwriting desk at Fidelity Capital Markets since 2014. He is currently the primary underwriter for competitive and negotiated underwriting, overseeing more than 700 new-issue transactions per year.
“I have to say that like most people, I’m not sure that you choose munis. I feel like munis choose you,” said the former trader who covered high-net-worth retail investors for FCM’s fixed income sales desk.
He used his experience to advocate for and incorporate retail-friendly structures and policies into the new-issue marketplace, according to Liz Hanify, senior vice president and manager of municipal finance at Fidelity.
Under Dan’s management, FCM increased its competitive transaction participation by 20% from 2016 through 2018 and its negotiated underwriting saw a nearly 15% increase in that time, she noted.
She said Dan continues to look for ways to leverage technology to simplify retail's ability to participate and create more accountability.
Dan credits Fidelity colleagues Hanify, as well as Joe Curley and Howie Salend, both vice presidents of municipal trading, for helping develop the skills necessary to excel in his career. Going forward he hopes to continue to learn about the municipal market as it evolves and becomes more electronic and efficient.
Ten years from now, Dan hopes to have acquired enough responsibility and experience within the capital markets and municipal department to advance his career into a leadership position.
Outside of the municipal arena, he is a sports enthusiast, who enjoys watching Boston area teams and playing sports, including being an avid golfer who has a single-digit handicap.
He is also a seasonal hockey player, turning his once childhood dream of becoming a professional hockey player into a favorite past time — but admits if he wasn’t a municipal manager, he would likely be a hockey coach and teacher.
Dan received a B.A. from the University of Massachusetts and an MBA from Boston College