Three former Huntington National Bank employees have joined Oppenheimer as managing directors as the latter looks to expand its muni underwriting, sales, and trading capabilities.
Specifically, the bank beefed up its competitive municipal underwriting business with the addition of Matt Davis as head of the department and Lauren Carter. Brendan Shanahan joined the firm's municipal trading business.
The hires come as nationwide infrastructure needs grow and some firms have left or scaled back their muni efforts.
In recent years, several firms have exited the muni market, most recently Janney Montgomery Scott, when a little over a year after it was acquired by KKR, the Philadelphia-based broker-dealer shuttered its public finance business as part of a takeover by Huntington National Bank. Only a handful of Janney employees got offers to join Huntington, including the three newly hired by Oppenheimer.
"Oppenheimer has been active in municipal bonds for decades, and we know this is a market where relationships, experience, consistency of presence, and execution matter," Peter Albano, global head of fixed income at Oppenheimer, said in a statement. "By expanding our capabilities, we are better positioned to meet the needs of issuers navigating a demanding environment and investors looking for thoughtful access to municipal opportunities."
Now, Albano said, is the right time for the firm to deepen its commitment to a market that "remains essential to communities across the country and a cornerstone of our product offering to individual and institutional investors."
Davis has nearly three decades of fixed income experience, recently working as Janney's head of municipal trading and underwriting. He will report to Albano.
Carter, who was a managing director at Janney, has nearly 25 years of muni experience underwriting tax-exempt bonds and notes across both competitive and negotiated transactions. Carter will report to Davis.
Shanahan, with his 30-plus years of institutional municipal trading experience, recently served as director of municipal bond institutional trading at Janney. He will report to Mike Giliberto, Oppenheimer's managing director and head of municipal trading.
These hires are the latest Oppenheimer has made as it looks to grow its muni business.
In January 2024, Oppenheimer
The firm hired
"We have been building this platform over several years, and adding professionals of this caliber strengthens our ability to support issuers and investors while further deepening our municipal market capabilities," Robert Lowenthal, the firm's president and CEO said in a statement. "Our growth strategy in these areas is disciplined but deliberate, focused on thoughtful expansion while maintaining strong execution and a sharp focus on clients."
Oppenheimer currently ranks 35th year-to-date among underwriters, accounting for $241.25 million in par across 19 deals. The firm ranked 35th in 2025, underwriting $1.295 billion across 73 deals, according to LSEG.
