Smith Barney, Harris Upham & Co. is partially banking on the performance of a rehired former employee to help it gain ground in southern California.
The firm recently named Henry L. Chanin as a managing director of public finance and co-manager of its western region. Mr. Chanin will be based in Los Angeles.
Eric Seder, a managing director in the firm's San Francisco office, is the other co-head of the western division. In addition to the aforementioned offices, the firm's western region has offices in Denver Seattle, and Sacramento. The entire region is covered by 18 bankers.
Mr. Chanin had been with Smith Barney's public finance department from 1984 through 1987, where he worked with Bartley F. Livolsi, an executive vice president in New York who oversees the regional public finance area as well as new business.
During that time, the two bankers focused on developing the firm's public finance presence in Florida.
Mr. Chanin resigned to become deputy director of airports for Clark County, Nev. After one year, Mr. Chanin became head of special projects for Clark County, specializing in the area of transportation.
His return to Smith Barney was prompted by Mr. Seder's recommendation, Mr. Livolsi said. Mr. Seder has a long-standing relationship with Mr. Chanin, and he suggested that the firm bring Mr. Chanin back as his full-time partner to assist in managing the western region, Mr. Livolsi continued. The hire was described to management as a "significant move for us in the region," Mr. Livolsi added.