Commercial banking

Tim Ruby has joined Wells Fargo as its healthcare, higher education and not-for-profit division executive. He will be based in Chicago.

Andrew Nakahata, who led UBS' western public finance region, will now do the same for TD Securities.

Costanzo is only the fourth woman to lead a municipal banking division. Huntington has hired Citi's entire Midwest public finance banking group, and Costanzo said the firm intends to further grow its footprint in the municipal space.

Cabrera Capital Markets is welcoming three new public finance hires who are joining the firm from UBS: Shawn Dralle, Shawnell Holman and Chris Bergstrom.

Loop Capital Markets is adding four seasoned public finance professionals from Citi and UBS: John Malpiede, John Giammarino, Alain Garcia and Candace Kelly.

Coolidge joins Oppenheimer from UBS, which closed its public finance business in October.

"BNP Paribas choosing Miami to open its newest office reinforces our community's status as a top financial market within the global economy," said Miami-Dade County Mayor Daniella Levine Cava.

Texas Attorney General Ken Paxton's office said it's reviewing whether 10 financial companies, including Bank of America and JPMorgan Chase, violate a state law that punishes firms for restricting their work with the oil-and-gas industry because of climate-change concerns.

The top three trustee banks have an average dollar amount of more than $20 billion in the first half of 2023.

The bank hasn't managed debt sales in Texas since a measure took effect in 2021 that bars governmental entities from working with companies that "discriminate" against firearms businesses. BofA's "current risk-based framework and policies" can comply with that law, a lawyer for the bank has told the state.

The decrease in long-term interest rates this year has helped banks' bond portfolios recover a bit. Some of them may consider restructuring their securities portfolios in the short run, and longer-term changes are also possible as the fallout from last month's crisis continues.

Shares in Silicon Valley Bank's parent company plunged 60% after executives announced they would sell a large bond portfolio at a big loss. The market "seems to be pricing in greater liquidity needs" than the bank currently anticipates, one analyst said.

Steven Kantor, a regional managing director based in New York, was among those cut, sources said.

Prepaid gas deals were notably absent from 2020's record-breaking municipal market as COVID-19 caused market disruptions for banks that provide credit support.

As it reaches its 50th year in business, Ramirez ranks 15th industry wide among all negotiated and competitive underwriters with 47 deals totaling $6.1 billion in 2020.

UMB plans to focus on higher education with its initial thrust into advisory services.

Getting crisis leadership right is vital to the well-being of employees, customers, and ultimately the business itself.

Oppenheimer will have its work cut out for it with the aim of being a major player in California's municipal banking business.

Richard G. Bartow and his son Richard T. Bartow joined the office this week and will focus on K-12 education.

The turmoil that’s gripped repo markets has turned into a stream of low-risk profits for some banks.