Oppenheimer creates public finance department for municipal notes

By Devika Patel

Knoxville, Tenn., June 22 - Oppenheimer & Co. Inc. said it has formed a municipal note public finance department.

The team, which will be located in Philadelphia, specializes in negotiating and competitively underwriting short-term municipal notes and bonds throughout the United States, especially the high-tax states in the Northeast and California.

Allison Fleitas, who heads the group, will be a managing director, and Darren Smith will be a senior director of trading. Both executives were formerly employed by Janney Montgomery Scott. Cynthia Henry Pinto, formerly of Commerce Capital Markets, will become the senior director of sales.

"We are delighted to have this highly regarded group of professionals join our firm in our Philadelphia branch office. Al, Darren and Cyndi bring over 70 years of combined experience to the team," senior managing director and regional manager Richard Grobman said in a press release.

Oppenheimer is a New York-based provider of investment banking, securities, investment management and wealth management services.

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