Public Finance and Municipal Markets

Capital raising and interest rate risk management

Our capital raising capabilities for issuer clients are provided by a team of more than 160 public finance investment banking professionals in 18 U.S. cities. Our Interest Rate Risk Management solutions are offered by a team of derivatives specialists with locations in Charlotte, New York, and San Francisco.

Our investment banking teams cover specific geographic and industry-specific regions and many specialize in a particular industry, including: 

  • Healthcare 
  • Public power 
  • Education and nonprofit 
  • Transportation and infrastructure 
  • Housing

Our financial services include: 

  • Fixed and variable rate bonds 
  • Short-term notes 
  • Commercial paper 
  • Private placements 
  • Novation strategies 
  • Interest rate swaps 
  • Total return swaps 
  • Municipal market data and treasury rate locks 
  • Forward hedging

Municipal bond underwriting and remarketing

  • Comprehensive underwriting capabilities in the municipal tax-exempt and taxable negotiated and competitive landscape 
  • Top four remarketing agent

Municipal trading

  • National municipal trading averaging $5 billion per month in institutional volume 
  • Active market maker and liquidity provider for tax-exempt and taxable municipals

Distribution capabilities

  • Institutional sales. Specialists focused on selling municipal products to top-tier institutional municipal buyers nationwide 
  • Middle-market sales. Access to more than 175 generalist sales people for distribution of municipals to mid-sized institutions 
  • Retail. Access to more than 15,000 full-service financial advisors for distribution to retail investors