BRADENTON, Fla. - PNC Capital Markets LLC has hired three public finance veterans with more than 78 years of combined experience to open offices in the Southeast and New York.
Warren "Bo" Daniels Jr. and David Fischer are managing directors based in Atlanta and Charlotte, and are furthering PNC's efforts to integrate public finance and investment banking with PNC Financial's core banking business. Matthew Roggenburg, a managing director in New York, will develop debt strategies across PNC's public finance business.
In an interview Thursday, Robert Dailey, senior vice president and head of public finance, said he is taking advantage of hiring opportunities as they arise in an effort to integrate and expand investment banking throughout PNC Bank's 19-state footprint along the Eastern seaboard and in the Midwest. The firm is expanding outside the footprint opportunistically.
"When somebody of the caliber of the people we recently hired becomes available, we want to act very quickly," said Dailey. "It was terrific to get Bo, David and Matt to join us."
Public finance has always been an important core business at PNC, he said. Now that the bank has successfully navigated the financial crisis, Dailey said he is expanding the public finance network, in part, to catch up with the bank's growth.
"I think that the one thing we are really trying to reinforce and build on is this integration between banking and investment banking, and that has led us well to developing client solutions and building our business," he said.
"Matt complements recent investments we've made to our structuring and optimization capabilities, while Bo and David will help us to deliver comprehensive capabilities to clients throughout the Southeast," Dailey said in a statement. "Adding talent of this caliber demonstrates PNC's commitment to its public finance business for the long term."
Daniels has 24 years of experience in public finance. He is leading the business efforts in Atlanta, Washington, D.C., and other markets. He most recently worked at Morgan Stanley as executive director in the firm's Atlanta office. Daniels also previously worked at Loop Capital Markets LLC and Goldman Sachs & Co.
With 24 years in the field, Fischer is leading the capital markets division in North Carolina, South Carolina, and other areas of the Southeast. He most recently worked at Stephens Inc., where he was a senior vice president for the North Carolina general infrastructure market. Fischer also worked at Wachovia, now Wells Fargo, and BB&T Capital Markets.
Roggenburg has more than 30 years' experience. He most recently was founder and co-owner of Cityview Capital Solutions LLC, an independent municipal advisory firm based in Millburn, N.J.
PNC has 29 public finance offices and capital markets divisions in 11 offices, and a balance sheet with more than $27 billion in credit extended in the public finance and health care sectors through instruments such as liquidity facilities, lines of credit, commercial paper and private placements.
PNC was the third-ranking senior manager on bond offerings within the bank's core footprint last year, Dailey said, adding that the bank itself is now the sixth-largest.
The firm was credited as senior manager on $2.03 billion of par volume in 2013 by Thomson Reuters. In Pennsylvania, where the bank is headquartered, PNC was the third-ranking senior manager for $951.3 million of bonds by par volume.
Last year, it hired two investment bankers in Florida and Dailey said PNC is still hiring for the public finance division in the Southeast and other existing offices.
