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Municipal Capital Markets

Our Municipal Capital Markets division provides the highest level of service to Institutional investors across the country. The division works seamlessly with our Public Finance Bankers to underwrite and sell negotiated transactions, bid and buy competitive deals, and trade secondary market bonds. Our team supports our issuers and investors by offering deep institutional knowledge of the market.

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Lead Negotiated Manager in 2025

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Underwritten

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Deals in the last 5 years

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accounts covered in the last 5 years

Our Municipal Capital Markets team offers services that include:

Sales

Our salespeople have deep experience covering the entire range of institutional investors. This includes Bond Funds and ETF's, Banks and Insurance companies, professional retail (separately managed accounts SMA's) and relative value trading accounts. The team is based in Chicago, New York City, and Denver.  

Trading

Our traders in Chicago and New York focus on the investor’s need for liquidity, market access and relative value trade ideas. With an annual secondary trading volume in the billions, they work closely with the sales team to identify opportunities in the secondary market, taking bonds into position to facilitate trade.

Underwriting

Our team broke into the top 20 negotiated underwriters in 2025 with over $2B senior managed par and we were the top 16 co-manager in 2024 at over $62B par. We actively bid select competitive issues alone and also as a member in local and national syndicates. The team is based in Chicago.



Leadership

Tom Rasmussen
Managing Director and Head of Municipal Capital Markets
New York City