HJ Sims is expanding its business in North Carolina by adding P.R. Gilboy & Associates to its family of companies.

P.R. Gilboy will maintain its market name and remain as a separate operating unit in Charlotte, N.C., Sims said in an announcement Thursday.

Founded in 1935, Fairfield, Conn.- based HJ Sims is a privately held investment bank and wealth management firm with $2.2 billion of assets under management.

“P.R. Gilboy & Associates and HJ Sims share a common philosophy and approach," said William Sims, managing principal. "The members of P. R. Gilboy & Associates' team are diligent, hard-working and trustworthy -- attributes the Sims team mirrors and values in our industry. We look forward to a successful future with the Gilboy team and to growing the Sims footprint in North Carolina.”

P.R. Gilboy is a broker/dealer that specializes in municipal bonds. The firm deals with institutional customers and focuses in the secondary market. The company is led by Philip Gilboy and his wife Debra.

Philip Gilboy
Philip Gilboy

The Gilboys co-founded the North Carolina-based firm in 1999. Philip had extensive experience in trading, underwriting and institutional sales in the municipal bond industry, while Debra had a career at Salomon Brothers.

“We pride ourselves on transparency and are relationship driven," Philip Gilboy said. "We have earned our clients’ trust and that is paramount. Joining forces with Sims will offer us the opportunity to access additional product to better serve our clients. Sims shares a similar client approach and will allow us the autonomy to do what we do best.”

Debra Gilboy said the firm has grown amid Charlotte's entrepreneurial culture.

“We work hard, and we strive to do things the right way," she said. "At the end of the day, we like what we do, we know where we stand and it is a good feeling.”

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