The public finance space has seen talent shifts at companies such as Texas Capital, Crews & Associates, ISM and First Eagle in recent weeks.
Other relevant announcements to keep on top of include a partnership between the Securities Industry and Financial Markets Association and the digital documentation fintech firm Arteria AI's new platform for U.S. Treasuries, as well as launch of two products from Easterly Asset Management.
Read more below.
Texas Capital announces public finance hire
Texas Capital, the Dallas-based bank, has recruited Mandy Keltz to fill the role of vice president in public finance.
Keltz is tasked with oversight of Texas Capital's tier one institutional accounts as well as expanding its current distribution platform. Keltz previously worked at Goldman Sachs for more than 17 years, departing as a vice president of municipal sales when she moved to her current role this month.
Texas Capital launched its public finance division last May with the hiring of industry expert Steve Genyk as a managing director. Genyk was a public finance head for UBS prior to joining Texas Capital.
SIFMA and Arteria AI partner on Treasury platform
The Securities Industry and Financial Markets Association has partnered with the digital documentation fintech firm Arteria AI to develop a data platform for those involved with clearing U.S. Treasuries.
The SIFMA Arteria AI Treasury Clearing Solution works to comply with the Securities and Exchange Commission's new rules on mandated central clearing by deploying artificial intelligence for scaling the "onboarding, legal compliance and operational systems" under the guidance, according to a
"Since the finalization of the rule in December 2023, SIFMA has been working with our members, both buy side and sell side, and key infrastructure providers to develop voluntary standardized documentation, a considerations report, accounting clarity, and legal enforceability opinions to facilitate the transition to mandated central clearing," Kenneth E. Bentsen, Jr., SIFMA president and chief executive, said in the release.
Compliance dates for the relevant SEC rules are Dec. 31, 2026, for eligible cash market transactions, and June 30, 2027, for eligible repo market transactions.
Crews & Associates names managing director
R.T. Taylor has joined the Little Rock, Arkansas-based investment management firm Crews & Associates as a managing director for public finance.
Taylor's tenure in the industry started in 1999, when he worked as an auditor with Ernst & Young. He joined Crews & Associates in April after working with the Richmond, Virginia-based Davenport & Co., leaving behind his role as a vice president of public finance.
Taylor's new role will focus on working with municipal clients in North Carolina, Virginia and Tennessee.
Crews also added Dan Krause of the Hudson Valley as vice president for executive sales in the New York City office. In this role, which he began Jan. 2, he helps guide institutional and retail clients with their fixed-income needs.
ISM announces succession planning for survey leader
Timothy R. Fiore, who has led the Institute for Supply Management's Manufacturing Business Survey Committee since 2017, is leaving the organization.
Fiore's successor, Susan Spence, was most recently the vice president of the sourcing and procurement group at the FedEx Corp. in Memphis from 2013 to 2023. When she takes the role in June, Spence will build the Manufacturing ISM Report On Business, author the monthly report and serve as the official spokesperson for the ISM Manufacturing Business Survey Committee.
Fiore has worked at a number of firms prior to his role at ISM, including Terex Corp., Ryder System, Pratt & Whitney and more, according to his
Easterly Asset Management debuts two new muni offerings
Beverly, Massachusetts-based investment management firm Easterly Asset Management launched two separately-managed account municipal bond products this month.
According to the May 14
Easterly ROCMuni National Municipal Bond Strategy focuses on investing in overlooked premium coupon callable bonds, helping to diversify reinvestment risk and offer federally tax-exempt income, according to the release.
"We're excited to leverage our experience and bring these products to market as a natural extension of Easterly's municipal bond investment offering," Troy Willis, co-head of municipals and senior portfolio manager at Easterly ROC Municipals, said in the release.
Both products will be overseen by Willis and Charlie Pulire, who also leads Easterly's ROC Municipals division.
First Eagle Investments adds high-grade trading leader
Justin Arabadjief has been named the head of high-grade trading on First Eagle Investments' municipal credit team.
Arabadjief joined First Eagle after working at JPMorgan as executive director of secondary trading and competitive underwriting, where he oversaw trading of high-grade municipals and pricing large-scale competitive transactions. Arabadjief's recruitment is part of the firm's push to deepen its presence in investment-grade municipal strategies.
"Justin brings more than two decades of consistent, high-level performance in the trading of investment-grade municipal bonds, having delivered value across a wide range of market environments," John Miller, head and chief investment officer of the municipal credit team, said in the press release. "HIs addition strengthens our capabilities as we expand into core plus and SMA strategies."
