Arthur Chan has joined M.R. Beal & Co. as a managing director in its New York office, the investment bank has announced.
Chan, who most recently worked as a senior vice president at Barclays Capital, will bring a "high level of technical ability and quantitative expertise" to the firm, executive vice president and head of public finance Wayne Seaton said in an interview.
Chan has worked in sectors including education, health care, public power, and transportation, and for such clients as New York City, the Long Island Power Authority, Connecticut, and others.
Chan has a bachelor of science degree in computer science from the University of Wisconsin, Madison, and a master of arts in public policy from the University of Chicago.
Although based out of the firm's New York City office, Chan will provide assistance to members in the public finance department through the Beal's offices in Chicago, Sacramento, and Dallas, too.
"He's really going to be working with all of our offices to help the whole firm get to another level with some high-profile, frequent, large issuers," Seaton said.
Like a number of banks, M.R. Beal sees the current market as a chance to make potential new hires. A number of experienced public finance professionals have become available as the market's most active underwriters scale back staff across all their business lines.
In November, M.R. Beal hired public finance veteran Sean Boyea to head its West Coast muni finance operations. The firm would also like to expand in the Midwest, Seaton said.
"It's really a measured expansion," Seaton said. "While we're not just hiring people in every single area of the country, it's an opportunity now especially with some very talented and seasoned professionals out there to add selectively."
M.R. Beal ranked 30th as a senior manager last year, working on nine issues with a par value of $1.4 billion, according to Thomson Reuters. So far this year, it has served as senior manager on three deals with a par value of $505.2 million, which ranks 23rd overall.