DALLAS - Estrada Hinojosa & Co. has hired Paul Jack, former executive director of JPMorgan, as executive vice president to head a new Austin office, said president and chief executive Noe Hinojosa.
Jack, 38, also previously worked for Citigroup and Public Financial Management Inc., and worked in JPMorgan's three-person Austin office that closed Dec. 2.
In his new post, he will help Estrada Hinojosa expand its business in state government and among Central Texas issuers, especially for transportation and utilities, Hinojosa said.
"I continue to think that transportation issues are going to be a tremendous opportunity for us," he said. "There's a lot to be said for the fact that the new Obama administration wants to invest a large part of the stimulus package in capital maintenance projects."
Jack said that the recent round of closures of major investment bank offices leaves room for regional investment banks to claim new business.
"I think there are a lot of opportunities for a regional investment firm like Estrada Hinojosa," he said.
At JPMorgan, Jack worked with Spanish toll-road developer Cintra in its thwarted bid for the State Highway 121 project north of Dallas under a Cintra-JPMorgan partnership. He also worked with Cintra on winning project work for the Trans Texas Corridor.
Transportation issues played a key role in Estrada achieving the second best year in its history in 2008, according to Hinojosa. A record bond issue for the North Texas Tollway Authority and large deals for the Texas Department of Transportation accounted for more than $7 billion of the firm's business as financial adviser or underwriter, he said.
During his six years at Citigroup, Jack worked with Jorge Garza, now Estrada Hinojosa's managing director.
Jack earned his undergraduate degree from the University of Texas and his masters from UT's Lyndon B. Johnson School of Public Affairs.
Founded in 1992, Dallas-based Estrada Hinojosa now has offices in Houston, San Antonio, Miami, and San Diego.