HilltopSecurities recently restructured the leadership roles in its fixed income capital markets business, while reducing its fixed income staffing levels by just under 5%.
The new leadership team includes Jason Lisec, head of municipal sales and trading; Carl Stimmel, head of fixed income taxable trading and SBA business development; Mat Parker, chief operating officer of capital markets and fixed income sales; and Ari Kavour, head of structured finance and securitized products group.
"I am excited about these leadership changes and continuing the strength of our Fixed Income Capital Markets business," Brad Winges, HilltopSecurities president and CEO, said in a statement. "We are fortunate to have such accomplished and proven leaders to help drive our growth strategy across our various product sector verticals."
The firm has recently welcomed two additions: Christopher Campbell, vice president, investment banker, and Tim Frenz, managing director, investment banker. Both new hires come from Janney, according to a LinkedIn post.
The layoffs include JP Zaptin, head of municipal bond trading, along with a a public finance banker, a corporate trader, a non-municipal sales manager and a strategist.
Hilltop currently ranks 19th year-to-date among managing underwriters of municipal bonds, underwriting $1.2 billion in 53 issues.
The bank's largest deal of the year was set to be $1.15 billion of public revenue bonds issued by the Salina Economic Development Authority to operate a tire factory managed by American Tire Works.
However, the high-yield deal had trouble getting done and has been moved to the day-to-day calendar.
The firm ranks third among municipal advisors year-to-date with $9.5 billion in 147 issues.
