People: Moors & Cabot Gets RBC Fixed-Income Trader

Moors & Cabot Inc., has hired Thomas E. Powers, formerly of RBC Dain Rauscher, as a fixed-income trader and underwriter at its Boston corporate headquarters. Powers, a vice president, will start tomorrow in his new position in which he will focus primarily on trading municipals. He reports to Joseph Cuetara, senior vice president and manager.

"This expansion highlights the firm's commitment to the bond market in response to our growing high-net-worth sales force, locally and nationwide, and their clients' focus on fixed-income securities," Cuetara said in a prepared statement. With the addition of Powers, Moors & Cabot will have five traders in the office, which trades corporates, governments and municipals.

Powers formerly managed the municipal trading desk at RBC Dain Rauscher's Boston office, which he left in June 2004. Prior to that, he managed CIBC Oppenheimer's Boston trading desk and held trading positions at the former Fleet Boston and the former Prudential Securities Boston bond departments, the statement said.