Jamie Rachlin, a senior level official at BMO Capital Markets, will join RBC Capital Markets as managing director in the municipal finance department in Chicago, after Piper Jaffray Cos. completed its purchase of Bank of Montreal’s Chicago-based muni business.
Rachlin will report to Stratford Shields, head of the Midwest region, RBC said in an email late Tuesday. Rachlin has spent the past 19 years at BMO and its predecessor, Griffin, Kubik, Stephens and Thomson.
“We are very excited that a banker of Jamie’s caliber has decided to join our growing Midwest platform in municipals,” said Shields. “Jamie will be an excellent complement to the diverse team that we have built in the Midwest covering all sectors in the municipal market.”
Piper Jaffray's deal to buy the unit is part of an expansion of its fixed income business, with a focus on the Midwest.
In his new role, Rachlin will cover client coverage across a variety of industry sectors and states in the region for RBC, with an emphasis on Illinois and Indiana local governments.
While at BMO and GKST, Rachlin served as a senior banker focusing on clients in the general government, transportation, higher education and P3 areas with an emphasis on Midwestern clients.
He also served as the manager of the public finance group at GKST prior to its acquisition by BMO. Rachlin has a total of 23 years of industry experience, having previously worked at Prudential Securities for five years, according to spokeswomen from RBC.
