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The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.
December 15 -
"The big question is: who's next? I don't think UBS is the end," said a veteran sellside market participant.
November 2 -
Brian Wynne joins Jefferies as co-head of the municipal syndicate, while Morgan Stanley continues to see turnover in its muni ranks.
April 12 -
Citigroup's cuts included veteran public finance banker Thomas Coomes, who had co-led the bank's Midwest region.
February 7 -
Alex Chilton is the firm's new head of municipal securities. Zach Solomon and David Gallin are co-heads of public finance.
February 1 -
UBS' move this week to cut some banking positions marked a reversal of its five-year growth trend as the bank rebooted its municipal underwriting business.
January 26 -
The firm is expected to announce the new muni leadership team next week.
January 12 -
Steven Kantor, a regional managing director based in New York, was among those cut, sources said.
January 19 -
About 500 of Raymond James' workforce will be cut because of a decline in earnings due to low interest rates and the pandemic-induced economic downturn.
September 16 -
Franklin, with preliminary assets under management of $712.3 billion, including $63.4 billion of tax exempts, has suffered net outflows since 2014.
April 23