CHICAGO - McDonald & Co. Securities Securities Inc. is expanding its public finance efforts in Michigan with the recent hiring of two public finance executives from Detroit-based Roney & Co.
McDonald said yesterday that Glenn M. Watson, a former general partner and director of public finance at Roney, and George K. Adams, a former associate director in public finance, have joined the firm.
Watson, who was given the title of senior vice president, and Adams, who is a first vice president, will work in McDonald's Birmingham, Mich. office.
Richard Clark, a spokesman for Cleveland-based McDonald, said the additions increase the number of the firm's public finance officials in Michigan to five. The Birmingham office now has four of the investment bankers; the other works in the Grand Rapids office, he said.
Clark said the two new bankers will enhance McDonald's public finance capabilities in Michigan and complement the firm's "growing retail presence [in Michigan] and good distribution for Michigan bonds."
The departure of Watson and Adams left Roney with no public finance bankers, according to William Vanderwheele, a general partner at Roney. He said the firm intends to replace the two executives.