"Frank McDonough has joined Bear, Steams & Co. as a managing director in the public finance department, according to an announcement from the firm.

McDonough, a 12-year veteran of the municipal bond business, came to Bear Steams from Goldman, Sachs & Co. where he was a vice president in the municipal bond department specializing in transportation finance.

At Bear Steams, McDonough will cover major transportation issuers and general infrastructure clients. He reports to Dan Keating, senior managing director and head of the municipal bond department.

The hiring of McDonough continues the Bear Stearns practice of "selectively adding experienced senior professionals in order to better serve the larger, more sophisticated issuers," Keating said in a press release.

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