Jefferies & Co. has hired a new managing director in its municipal trading business, one of its first muni hires this year.

While the firm has been working on expanding its overall fixed-income business, Daniel Gilman is only one of a handful of new hires this year in the municipal securities trading business.

Gilman joins the New York office and reports to James McGinley, head of municipal markets. He joins from Fundamental Advisors, a muni bond private-equity firm where he was co-head of investments. He has also worked at Citi, where he focused on distressed trading of municipal securities.

“With more than 20 years of fixed-income experience, he brings extensive knowledge and relationships to our municipal securities platform,” McGinley said.

Gilman joins the municipal securities group that now has more than 100 professionals who concentrate on the banking, sales, and trading of municipal securities. Earlier this year, Jerome Doyle and Danford Peterson joined the group as part of the firm’s plan to bulk up its trading business. Doyle acts as a manager within the group as well as a trader and focuses on high-net-worth individuals, middle markets, and electronic trading platforms. Peterson and Doyle joined in April and May, respectively.

Both Doyle and Peterson’s “proven track record, product experience, and strong industry relationships will significantly enhance our municipal trading capabilities and continue to grow this important segment of our fixed-income business,” McGinley said.

Doyle joined after spending 13 years at UBS, where he most recently was managing director and led the firm’s Northeast municipal trading group. Peterson joined from PIMCO, where he was a portfolio manager focused on municipals.

Jefferies has slowly been trying to increase its market share in the municipal underwriting business through the years. In 2009, the firm was ranked 19th among senior managers, underwriting 64 deals worth just under $3 billion. In 2010, it moved up to 14th place, underwriting 88 deals worth over $5.1 billion. So far this year, the firm is at 12th place, underwriting 29 deals worth just over $2 billion.

In negotiated deals, Jefferies has stepped up in its ranking as well, moving up to 14th place in 2010 from 16th in 2009. They ran the books on 70 deals, up from 54 the year before, underwriting $4 billion, up from $2.7 billion.

For competitive deals, the firm has made a large jump, doubling its ranking to 14th place from 30th. It also won many more competitive, larger deals, underwriting over $1 billion in 2010, up from 211,000 in 2009.

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