CHICAGO - Seeking to boost its position in the public-private infrastructure market, RBC Capital Marketsannounced that former Lehman Brothersbanker Daniel Heimowitz started Monday to manage the firm's municipal market activities within its infrastructure practice.
Heimowitz, 54, will manage the coverage of all government clients for RBC's U.S. Infrastructure Practice. He will report to John Hastings, who manages the firm's domestic infrastructure group that includes 18 professionals.
Before joining RBC, Heimowitz, who is based in New York City, was the manager of the transportation finance, project finance, and credit groups at Lehman, where he worked for 11 years and was a managing director. He joined RBC also as a managing director.
Lehman tapped Heimowitz's prior experience as an executive vice president and director of the public finance department at Moody's Investors Service to lead the credit structuring and rating agency processes on high profile deals including California's economic recovery bond program in 2004. Others included Massachusetts' stand-alone federal highway grant anticipation note issue, the inaugural income securitization for the New York City Transitional Finance Authority and the privatization of one of John F. Kennedy International Airport's terminals.
"Dan's proven experience in the municipal market and record of innovation will provide critical leadership for RBC's rapidly expanding U.S. Infrastructure practice, and will allow the firm to further its successful strategy of providing integrated market coverage through a seamless combination of its public finance and infrastructure groups," Hastings and Chris Hamel, RBC's municipal finance head, said in a joint statement.
The firm is actively pursuing privatization business on both the public and private sides providing advice, capital and debt structuring and underwriting and distribution services. RBC's U.S. team has worked as an adviser for the Georgia Department of Transportation and North Texas Tollway Authority on several deals and on Denver's Northwest Parkway project. The firm is also an adviser to the Port of Oakland on public private partnerships.