Stone & Youngberg LLC, the biggest California-based municipal bond underwriter, hired three new professionals from national firms to bolster its taxable fixed-income business.
Mark Anderson, previously of Merrill Lynch & Co., joined the firm’s San Francisco office as a vice president, while Walter Derish and Nicole Moss, both previously from Barclays Capital, joined the New York office as vice presidents.
Moss and Derish will be selling corporate bonds to institutional investors on the East Coast, while Anderson will sell corporate and mortgage-backed securities on the West Coast.
Regional firms such as Stone & Youngberg have taken advantage of the decline of major Wall Street banks and brokerages to lure talent during the financial crisis. Stone & Youngberg has hired eight employees for its taxable team since November.
“As we continue to expand our fixed-income business in key markets across the country, we are pleased once again to bring on board some of our industry’s top talent,” said Jack Turner, a managing director and head of the firm’s taxable fixed-income group.