CHICAGO - First of Michigan Corp. will shut its New York City municipal bond operations in July, an executive of the firm said yesterday.

Steve Gasper Jr., president and chief executive officer, said that consolidation of the municipal bond business in the firm's Detroit headquarters is the reason behind the action.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.