BRADENTON, Fla. Cary Anderson, a 50-year veteran in the municipal bond industry, died Nov. 24. He was 76.
Mr. Anderson was an institutional salesman for HJ Sims & Co. Inc., in Boca Raton, Fla. He joined the firm in October 2010, working most recently as a senior vice president and financial advisor at the investment bank and fixed-income financial services brokerage.
He specialized in high-yield bonds, general market municipal debt, and defaulted and distressed municipal debt.
“I deeply appreciated Cary working here,” said Bill Sims, whose father founded the firm 78 years ago. “His reputation and knowledge of municipal bonds fit beautifully with our firm’s expertise. His experienced advice was always valued. We will miss him greatly.”
Mr. Anderson began work in his profession in the 1960’s at United Municipal Investments Corp. where he worked at the New York offices of the Memphis, Tenn.-based regional investment bank.
He later went on to start his own firm, Anderson, Peters & Hunt, with two partners.
Hawley Vander Poel, who retired as a senior director at Fitch Ratings six years ago, described Mr. Anderson as kind, generous, helpful, funny, and very good at “busting someone’s chops.”
Mr. Anderson “loved life, enjoyed expensive cars - especially the ones he could not afford - and also good food and good drinks,” said Vander Poel, a friend for more than 40 years. “The municipal world will miss him just like I will miss him very much.”
Dick Larkin, director of credit analysis at Sims, said he appreciated being able to put things in a historical perspective with Mr. Anderson because they both lived and worked through the famous 1975 New York City market crisis.
Mr. Anderson also talked about the history of his alma mater, the College of William and Mary, which Larkin’s son now attends.
“Cary told me that his family’s roots went as far back as the original colonial Williamsburg of the 1600’s,” Larkin said, adding that “you could rarely talk to Cary without him mentioning his beautiful wife, Carol.”
Jay Alpert, an old friend now at Lebenthal & Co., recalled Mr. Anderson’s upbeat spirit and positive attitude, as well as someone you could lean on when you needed a friend.
“He always looked at the bright side, always saw the glass as half-full, and was never at a loss for words,” Alpert said, adding that Mr. Anderson could easily “bend someone’s ear.”
Henry and Les Goodman, also colleagues at Sims who also worked with Mr. Anderson at UMIC, remembered his good nature.
He could take a joke with the best of them, said Henry Goodman, who recalled a time when colleagues tore off the sleeves of his shirt, a tradition if someone spotted a hole in your clothing.
“Cary had an important dinner that night, so we all pitched in and scotch-taped the sleeves back on,” he said. “Cary kept his jacket buttoned, and no one was the wiser.”
Les Goodman remembered the times when they worked at UMIC, one of few firms that survived in New York City when the bond market closed up in 1975.
“If you had a strong stomach and conviction that New York City would eventually be money-good’ there were fortunes to be made,” Les Goodman said, adding, “They were right.”
Mr. Anderson is survived by his wife, Carol, daughter Joi, son Chis, and other family members.