Memphis-based Vining Sparks has recently hired a number of sales and trading professionals from Banc of America Securities LLC as it makes a bigger push into the municipal market.

The firm follows a number of others that have sought to capitalize on the disruption amid the credit crisis at some of the parent companies of the market's largest financial institutions. Many firms have used the mergers, layoffs and, in some cases, uncertainty at the largest banks to expand their municipal groups.

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