(Bloomberg) -- Loop Capital Markets has hired three public finance bankers as the Chicago-based investment bank expands in the Northeast amid a rebound in municipal-bond sales this year.
Jaimie Scranton joined Loop in Boston this month as a managing director and head of surface transportation deals, according to a statement from the bank. She most recently served as a senior banker at Barclays Plc.
Doug Adams joined in July to open a new office for Loop in Philadelphia. As a vice president, he will focus on higher education and transportation. He previously worked at Echo Financial Products, an advisory firm. Christopher Dinno joined Loop as an investment banking associate last month in New York. He previously worked for Ramirez & Co.
Representatives of Barclays, Ramirez and Echo didn’t respond to emails seeking comment about the departures.
“We are looking to grow nationally, emphasizing Texas and the Northeast,” Bo Daniels, Loop’s head of public finance, said in the statement. “This new group of bankers further underscores that strategy, especially in the Northeast. The market is strong right now, and we expect that to continue into next year.”
The hires come during a broader talent shift in the market after Citigroup Inc. and UBS Group AG largely exited the muni market. Loop is among a series of smaller banks now hiring from other competitors still active in the market, after recruiting earlier this year from the exiting firms.
In March, Loop announced it had hired three former Citigroup bankers and one from UBS to expand in Boston, Houston and San Antonio, according to a statement.
In Thursday’s statement, Loop Chairman and Chief Executive Officer Jim Reynolds said the firm sees “tremendous growth opportunities” in the market.
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