U.S. Bancorp Piper Jaffray has hired John Calia, a former top trader at Lehman Brothers,to head up the expansion of its fixed-income municipal trading and sales capabilities inNew York.
Calia, managing director and head of municipal secondary trading, was hired on June 3 aspart of a broader expansion initiative the firm has embarked on over the past fewmonths.
He most recently served as managing director and head of municipal bond trading atLehman, where he worked in municipals for 19 years.
Calia was unavailable for comment by press time.
He left the firm earlier this year and, according to a Lehman trader, his previousduties are being shared by other members of the trading desk. At Lehman, Calia reportedto Peter Coleman, managing director and head of municipal bond trading, who was notavailable for comment.
Brad Winges, head of municipal sales, trading, and underwriting in U.S. Bancorp PiperJaffray's fixed-income division, said in a prepared statement: "We have made severalstrategic additions in our municipal business that will strengthen our sales and tradingplatform. These additions will continue to help us maximize our individual strengths andfuel our efforts in municipals."
In recent months, the firm has also added new persons in Minneapolis and Chicago.
In March, Piper Jaffray hired Shawn Somerville as head of a new municipal money marketdesk in Minneapolis. Somerville joined Piper Jaffray after spending six years as asenior portfolio manager at Wells Fargo.
In February, the firm hired John Donovan as a managing director in municipalinstitutional sales also in the New York office. Donovan previously worked at J.P.Morgan Securities Inc., where he was a vice president in institutional municipal salesfor nine years.
In April, Piper Jaffray also hired Luke Baker in institutional trading creditsurveillance. Baker most recently worked as a research analyst at Jeffrey Slocum andAssociates in Minneapolis. Prior to that, he spent three years as a research analyst atEvensen Dodge Inc. in Minneapolis.
The firm also hired Mike Paone in March from U.S. Bancorp Asset Management to work onthe money market desk in Minneapolis. In addition, Piper Jaffray moved CherylPawlikowsky to head up the institutional sales dealer desk in the Chicago office. Shehad been with the firm in institutional municipal sales since 1996.
