CHICAGO -- Three municipal bond employees from the Holland, Mich., office of J.J.B. Hilliard, W.L. Lyons Inc. have left to start a municipal operation at another firm.

Scott VanderWerp, who headed Hilliard Lyons' municipal department in Michigan, said he, Doug Haverdink, and Ryan Ammon left the firm, and this week opened Michigan Municipal Markets Group in Grand Haven, Mich.

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