MEMPHIS, Tenn., Feb. 5, 2013 (GLOBE NEWSWIRE) -- FTN Financial Capital Markets, a division of First Tennessee Bank NA, announces its continued expansion in the general market municipal bond sector with the addition of a public finance department.
With a hundred-year history of service in the municipal bond business, FTN Financial began expanding its role with the addition of a dedicated municipal sales group in 2012. The establishment of the public finance department serves to complement FTN Financial's municipal trading and competitive underwriting capabilities.
To date, offices have been opened in San Antonio and Austin, Texas, as part of this expansion. Rogelio Rodriguez (San Antonio) and Don Henderson (Austin), with a combined experience of over forty years in Texas public finance, joined FTN Financial's public finance team and they will focus on negotiated municipal bond transactions. FTN Financial has already achieved significant results in this arena, participating in four transactions in January, including the solely-underwritten $88 million La Joya Independent School District refunding issue in Texas.
"True to our model, we expanded our trading and underwriting last year. The establishment of this public finance group was the next logical step. We plan to increase our commitment to the general market municipal platform and expand our public finance department, expecting significant market penetration," said Mike Allen, FTN Financial's Municipal Products Manager.
FTN Financial has also added Josh Mulholland to its dedicated Municipal Bond Sales team. Josh brings over 20 years of institutional municipal sales experience to FTN Financial. "We continue to attract the finest sales talent in the industry," says Rod Turner, Director of Sales at FTN Financial.
"Our objective is to provide real value to our customers – both issuers and investors alike – by bringing quality products to the market with our unique combination of vast distribution and available capital to deploy," says Michael E. Kisber, President of FTN Financial. "We're very excited with the level of enthusiasm and acceptance in the market that we have experienced with this strategic initiative."
The strength of FTN Financial's platform is its extensive fixed income distribution network of over 6,000 institutional clients worldwide, including approximately 50% of all U.S. banks with portfolios over one hundred million dollars. FTN Financial is a capital markets leader in fixed income sales, trading, and strategies, with average trading volumes in excess of $5 billion per day. FTN Financial has over 50 traders and 165 sales representatives located in 19 offices worldwide.
Information about FTN Financial and its entire offering of products and services can be found at www.ftnfinancial.com.
FTN Financial Group, FTN Financial Capital Markets, and FTN Financial Portfolio Advisors are divisions of First Tennessee Bank National Association (FTB). FTN Financial Securities Corp (FFSC), FTN Financial Main Street Advisors, LLC, and FTN Financial Capital Assets Corporation are wholly owned subsidiaries of FTB. FFSC is a member of FINRA and SIPC—http://www.sipc.org/. FTN Financial Group, through FTB or its affiliates, offers investment products and services. FTN Financial is not registered as a Municipal Advisor.
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Source:First Horizon National Corporation