CHICAGO - Chicago-based Mesirow Financial has elevated David Johnson to head of its public finance group.
Johnson, a managing director, has worked on the firm's municipal desk in institutional sales and trading for six years. He replaces Steve Hoopes, who the firm said is "pursuing other opportunities."
Sources said Hoopes was no longer with the firm but the firm would say only that "Steve is currently considering his options."
As part of the firm's strategy, Mesirow in recent years has expanded its distribution, research, and funding capabilities on the trading and sales sides, the statement read. With over 30 years of municipal securities experience and senior roles on both the investment and broker-dealer side, the firm believes Johnson will be instrumental to the firm's public finance business as it expands nationally.
"David's appointment to this leadership role demonstrates the energy and sharpened focus we are committing to drive the growth and direction of our Public Finance business," Dominick Mondi, president of Mesirow Financial Capital Markets, said in the statement.
Johnson previously worked at Cabrera Capital Markets as manager of sales and trading and at the former Van Kampen Investments where he managed the investment process for the firm's tax-exempt mutual funds.
Mesirow ranked 53rd among senior manager last year nationally with 33 deals valued at $401 million, according to Thomson Reuters.
Hoopes was a longtime member of the firm's public finance banking group and carried the title of senior managing director and manager of the public finance banking group. He was recruited by Lawrence Morris, a former head of public finance, in 1999. In 2009, he became head of the public finance group. Morris retired in 2011.
