With an eye on growing its public finance business, New York City-based broker-dealer Lebenthal & Co. LLC has hired William Ludolph to head its municipal underwriting efforts.
A municipal industry veteran who began his career in 1972 at the former E.F. Hutton & Co., Ludolph brings a combination of banking and underwriting expertise to the firm. He officially joined the team last Friday.
Most recently a banker at Charles Schwab Securities, Ludolph has worked in public finance and underwriting at various firms throughout his career, including Lehman Brothers, Shearson American Express, L.F. Rothschild, First Boston, as well as Donaldson, Lufkin & Jenrette.
"Lebenthal continues to grow the scope of its activities and I could not be more thrilled to have Bill join us to help drive that growth," said Alexandra Lebenthal, President and Chief Executive Officer of Lebenthal.
Year to date, the firm has managed or participated in 35 municipal bond deals representing $13.7 billion, according to the firm, and Lebenthal hopes Ludolph's presence will help boost future underwriting growth.
"With his extensive experience in municipal underwriting, I believe Bill adds a new facet to our capabilities," she added. "He will be a key part of our future success as we focus on the new-issue market in public finance."
The current firm was established in 2008 and is the leading woman-owned firm in public and corporate finance, according to Lebenthal. The original Lebenthal & Company was founded by Ms. Lebenthal's grandparents, Louis and Sayra Lebenthal in 1925. Their son, Jim Lebenthal made Lebenthal a brand name through creative marketing and is still active in the new firm.
A graduate of Georgetown University, Ludolph said he, too, is excited to be joining a firm with a strong history and brand name. "Together, I believe we can add significant value to the issuer and investor community in municipal finance," he said.