De La Rosa & Co. has added to its Los Angeles sales and trading desk to help support its growing underwriting presence on the West Coast.
Omar Buttari 2d started yesterday as a director of taxable fixed income, said Ben Stern, principal in charge of fixed-income sales and trading. In addition, industry veteran John Moynihan joined De La Rosa late last fall as a senior vice president of institutional sales.
"As the firm's presence in the forefront of the state's primary market has grown, so has our commitment to the secondary market, and our need for seasoned personnel," Stern said in a statement. "John's long-standing relationships and skills really strengthen our lineup of sales and trading veterans."
Moynihan specializes in selling fixed-income securities to trust departments, mutual funds, and money managers, according to a statement by the Los Angeles-based firm. He will focus on municipal securities at De La Rosa.
Previously, Moynihan had logged 24 years of market experience and worked in the fixed-income departments of Lehman Brothers, A.G. Edwards & Sons Inc., and Alta Capital Group LLC, the statement said.
With about 15 years in the industry, Buttari was hired to develop a presence in mortgage-backed securities, corporate bonds, and agencies -- areas the firm has not focused on in the past, Stern said.
Founded in 1989, De La Rosa has gradually ramped up its presence in California, which represents almost all of its underwriting business. It has underwritten more than $1 billion of municipal bonds each of the last three years, according to Thomson Financial.
Since 1996, the firm has ranked no lower than 25th among the busiest senior managers of debt issued by state and local governments in the Golden State, the data showed. Last year, De La Rosa lead managed nearly $1.7 billion through 48 deals for California issuers -- 11th most among all underwriters that did business in the state. (c) 2007 The Bond Buyer and SourceMedia, Inc. All rights reserved. http://www.bondbuyer.com http://www.sourcemedia.com
