Siebert Brandford Shank earlier this week announced it has hired Sean P. Duffy as a managing director in the firm's New York office.
The hire is the firm's latest in its drive to expand its sales and trading department. Duffy, a 23-year municipal veteran, had worked at Loop Capital Markets for the past three years.
Siebert chairman Napoleon Brandford said in an interview yesterday that with the arrival of Duffy, the firm expects to improve its ranking within the top 20 underwriters for negotiated issues. It has been in the top 20 for the past three years, he said.
"Sean was clearly a top producer at Loop Capital Markets, and was heavily responsible for their business expansion in the secondary market and their trading analytics," Brandford said in a prepared statement. "He is an ideal fit for our organization as we position ourselves to expand upon our recent successes and increase our penetration in both the primary and secondary market platforms."
"Sean is a very well respected veteran with extremely strong customer relationships, who has proven his business development skills and keen knowledge of the cash and derivative side of the municipal industry," said the firm's president and chief executive officer Suzanne Shank in the statement.
Shank noted that Duffy will be focusing on traditional accounts, as well as some derivatives accounts. Duffy reports to Shank.
Prior to Loop Capital, Duffy worked at Printon Kane and William E. Simon & Sons.
For the first six years of his career, Duffy was an institutional and retail trader at the former PaineWebber, which was later merged into UBS Financial Services Inc.
