UBS

Director, Public Finance Underwriting at UBS

Municipal underwriters jockey for position as business increased 21.9% from the first quarter of last year.

The SEC announced the settlement with former UBS broker Chris Rosenthal, the biggest yet from its ongoing flipping investigation.

The staff additions include Bech Bruun, former chairman of the Texas Water Development Board.

Clients have filed hundreds of similar claims against UBS since 2013, with aggregate damages of $2.6 billion.

The Financial Industry Regulatory Authority has already barred Jose Ramirez from the securities industry, his lawyer said.

Jose Ramírez has yet to acknowledge wrongdoing in misleading investors about Puerto Rico debt and may pose a continued threat to investors, SEC lawyers told a federal judge.

UBS Wealth Management Americas raised its firepower in areas that escaped the chopping block under the new tax law, hiring a trio of executives with experience in stadium and public power finance.

UBS has now brought in 37 municipal professionals since April, when it said it was re-entering the public finance business to tap increased demand amid rising interest rates.

The firm, which returned this year to public finance, hired five bankers in Texas, Florida, Illinois and New York.