Sell side

"We're looking to grow our team in various parts of municipal practice and it was time to really add a banker in the Midwest," Janney's head of public finance, Vivian Altman said. "We see a lot of potential in the Midwest."

Federal Reserve data shows that retail ownership of municipals rose $58.8 billion, or 3.7% quarter-over-quarter, to $1.67 trillion. Bank ownership fell in the first quarter by $13.3 billion.

Molloy will be leaving the banking giant for the nonprofit sector. Dan Tomson and Paul Creedon, co-heads of public finance, will be taking over his responsibilities.

Gambone, who has 30 years of experience in the municipal finance industry, replaced retiring head of public finance Eileen Solla-Diaz.

Suzanne Shank has been chosen as chair of the 2024 Mackinac Policy Conference, the Detroit Regional Chamber announced.

The work from home environment will reduce city property tax collections in coming months and years, analysts say, creating financial issues.

"Ultimately, the case for fixed income generally, and munis specifically, is much stronger today than it was a year ago," said Nick Vendetti, municipal bond fund portfolio manager with Allspring Global Investments.

JPMorgan's move to acquire First Republic and its muni portfolio eases the risk of nearly $20 billion of munis flooding the market.

Brian Wynne joins Jefferies as co-head of the municipal syndicate, while Morgan Stanley continues to see turnover in its muni ranks.

The $250 million in debt being issued for Montana Renewables is equal to nearly half the state's issuance for last year.

A bill introduced by Sen. Dave Min would prohibit banks that invest in gunmaking from working on any aspect of state public finances, including bond sales.

A California conduit will price private activity bonds to replace the intakes for a San Diego County water desalination plant.

Alex Chilton is the firm's new head of municipal securities. Zach Solomon and David Gallin are co-heads of public finance. 

A California treasurer's conduit approved a $135 million bond-funded grant for Loma Linda University Children's Hospital.

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.

The firm is expected to announce the new muni leadership team next week.

Jim Stricklin has joined the team of advisors at Columbia Capital Management.

California's state water board asked IBank to issue $650 million in water revenue bonds.

The Missouri-based firms say they will boost client relationships and expand capabilities with the pending merger, which will retain the L.J. Hart & Co. brand.

The downgrades for Alaska's largest city come less than two months after the mayor set returning the city's ratings to AAA as a goal in his fiscal 2023 budget.