BRADENTON, Fla. — Memphis-based fixed-income broker-dealer Carty & Co. has expanded its new public finance division into Alabama, with an eye toward expanding into other states in the Southeast.

Tom Nesbitt, who has worked in the investment banking and public finance field for the past 17 years, has joined Carty as director of Alabama public finance. He is based in Birmingham.

Randy Schrimsher, a certified financial planner with more than 20 years of experience, has opened a new office in Huntsville where he will work on institutional and retail sales as well as public finance.

Both Nesbitt and Schrimsher report to David Hooks, vice president of investment banking and institutional sales for Carty in Memphis.

Hooks recently left Jefferson County, Ala., as director of capital structure and investments to focus on expanding Carty’s institutional sales network.

Opening an office in Huntsville is an exciting prospect for the firm’s expansion plans, said chief executive officer Bill Carty.

Nesbitt and Schrimsher “will be a tremendous complement to our knowledgeable and experienced staff, and we look forward to working with our new clients in Alabama,” he said.

Nesbitt’s underwriting experience has included work on tax-exempt and taxable bond offerings for various municipalities and county governments as well as public utility boards, school boards and authorities, and industrial development boards in addition to project-based debt issues, according to the company.

Nesbitt received a bachelor’s degree from the University of Alabama and a master’s degree in business administration from the University of Alabama at Birmingham. He has Series 7, 79, 52 and 63 licenses.

Schrimsher has worked with clients across the Southeast providing strategies in retirement planning and investment counseling to individuals, families and businesses, the company said. He received a degree from Auburn University.

In addition to Alabama, Carty plans to expand its new capital markets and public finance division in Arkansas, Georgia, Kentucky, Louisiana, Mississippi, and Tennessee according to Hooks.

Carty is a full-service brokerage firm specializing in fixed-income securities with more than 60 employees serving clients across the United States.

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