First Horizon National (FHN) in Memphis, Tenn., has expanded its dealings in municipal bonds.
The company said Tuesday that FTN Financial Capital Markets, a unit of First Tennessee Bank, had formed a public finance department with offices in San Antonio and Austin, Texas. The $25.2 billion-asset company said the offices will supplement its existing underwriting business.
Don Henderson joined FTN and will work in the Austin office. He previously worked as an independent financial advisor after holding posts with Public Finance Management, JPMorgan Chase (JPM) and other firms over nearly three decades in the financial industry. Josh Mulholland joined the municipal bond sales team after holding posts at Mesirow Financial, Bank of America (BAC) and other firms.
Rogelio Rodriguez joined FTN in December from Drexel Hamilton, an investment firm in San Angelo, Texas. Rodriguez, who will be based in San Antonio, has held a series of public finance posts at Frost Bank, a unit of Cullen/Frost Bankers (CFR), and JPMorgan Chase over the past decade. Rodriguez and Henderson will be responsible for bringing in municipal bond deals.
Last month, FTN participated in four financings, including an $88 million issue by the La Joya Independent School District in Texas.
"We plan to increase our commitment to the general market municipal platform and expand our public finance department, expecting significant market penetration," Mike Allen, FTN Financial's municipal products manager, said in a press release.
FTN said on Monday that it has added Sylvia Holt Williams and Grady Mosay to its fixed income sales team. Williams, who will be based in Kansas City, Mo., and Mosay, who is based in Philadelphia, previously handled capital markets sales at Stifel Nicolaus.