UBS brought aboard two more muni pros in its quest to fill out its newly revamped public finance business.
“As we continue on our growth path for public finance, we will also be enhancing our capital markets business, as it is integral to the expansion of the public finance business,” Peter Hill, head of public finance and Mark Sanborn, head of capital markets and sales for UBS Wealth Management Americas said in announcing the hires.
Tim Sullivan will join UBS as managing director and head of the New England Region and national head of housing finance. He will be stationed in Boston and comes to UBS from MassHousing where he served most recently as the executive director.
Under his leadership over the past 15 years, MassHousing expanded its lending programs, winning ratings upgrades and accelerating its lending production to more than $1.7 billion in 2016 – an all-time agency record. Sullivan brings a background in public finance in Massachusetts, having previously served as the state’s budget and finance director.
Michael Ciliento will be joining UBS as an executive director and municipal trader, reporting into the municipal trading organization. Ciliento, who will be stationed in WeeHawken, N.J., brings over 19 years' experience in the industry and comes to UBS from Morgan Stanley where he held a municipal trading role. Prior to that, he was a mortgage trader for seven years.
The firm has brought on more than 20 new hires since relaunching its public finance effort earlier this year.