DALLAS -- Huntington Capital Markets has hired two seasoned muni market veterans to expand its public finance footprint in Indiana.
Tom Enright and Rick Hursh have been hired as managing directors of the firm’s new capital markets office in Indianapolis. They will work with the bank's public finance business to cover financial advisors and issuers across Indiana.
“Indiana is a prominent market for the bank, and our local presence is significant,” said Huntington’s managing director of public finance, Ryan Kozak. “Serving the needs of public sector clients across the state is vital to our commitment to communities, and Tom and Rick will help lead that charge.”
Enright and Hursh join the growing capital markets business at Huntington, which said it recently experienced record quarterly revenue growth of 47%.
The duo most recently worked at City Securities where Enright led the public finance underwriting business. Prior to City Securities, Enright worked at Indiana National Bank and Raffensperger, Hughes and Co.
Hursh has 32 years of experience in fixed income sales covering institutional bond purchasers including mutual funds, bank trusts and portfolios, insurance companies and investment advisors. He started his career at Citibank in municipal sales before progressing to institutional sales positions at Lovett, Underwood, Neuhaus and Webb, Inc., NatCity Investments and City Securities Corporation.
Kozak said that the firm was planning on additional capital markets hires in the future.
Kozak has previously said that healthcare and education finance are key areas of growth for the capital markets team as it looks to expand its Midwest public finance footprint. In March the firm hired 16-year vet Richard Hatton to lead the organization's expansion of its Midwest operations with a focus on southwest Ohio, Kentucky and Indiana.
Kozak said that the team has contemplated changes to the muni market in the tax reform bill that could have an adverse effect on its business and issuer clients. “Preserving private activity bonds, tax credits and the ability of issuers to save through advance refunding are key issues we hope are resolved,” Kozak said.
The Columbus, Ohio headquartered organization now has 17 sales and trading professionals in Cincinnati, Cleveland, Columbus, Toledo and Indianapolis that work with Huntington's government banking team and Huntington Public Capital to deliver commercial banking, tax-exempt bond financing and equipment financing solutions to public sector and nonprofit customers.
Last year the firm acquired First Merit Bank to further grow its presence in Ohio and to establish an entrance into new markets in Chicago and Wisconsin.