DALLAS – Former Hilltop Securities senior vice president Victor Pucciarelli and 10 other bankers will join the investment banking division of UMB Bank in Dallas, the company said.
The hiring comes three years after Kansas City, Mo.-based UMB entered the Texas market.
“UMB has experienced positive growth since entering the Dallas market in 2013, and the decision to build an investment banking team fulfills a need we’ve been eager to satisfy for our customers here,” said Jim Cornelius, institutional banking president.
Pucciarelli worked for Southwest Securities for 23 years and played a key role in the firm’s expansion into the Midwest and California markets. Southwest Securities became known as Hilltop Securities after its merger with First Southwest Co. in 2015.
Jeffrey Duchin, formerly director of the institutional fixed income division at Hilltop, has been hired to lead the new sales team as senior vice president.
Others joining the team are: senior vice presidents Thomas Massey, former head of trading at Preston Hollow Capital; Peter Wooldridge, former head of the corporate bond group at Esposito Securities; and Steve Madden, previously director of national municipal underwriting for Guggenheim Securities in New York. Madden also worked at Southwest Securities before Guggenheim.
UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses.
Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.