DALLAS, Oct. 29 /PRNewswire/ -- Southwest Securities, Inc. has opened a new taxable fixed income office at 44 Montgomery Street in San Francisco to serve institutional customers.
"This is part of our effort to expand fixed income sales," said Executive Vice President Dan Leland, who heads Southwest Securities' Taxable Fixed Income division.
Mr. Leland noted that Southwest Securities strengthened its California presence through an acquisition in 2008 which added six offices that are primarily focused on retail fixed income. "Now we're expanding our institutional presence in California," he said.
Southwest Securities' new San Francisco office is staffed initially by Martin Gamboa and Jason Evans, fixed income sales personnel, and Wallace O'Leary, who supports the desk. They have relocated from the Mill Valley office. The office specializes in the sales of taxable fixed income products including corporate and agency bonds and mortgage-backed securities, including asset-backed securities (ABS) and commercial mortgage backed securities (CMBS). The firm is also very active in underwriting and trading municipal product.
"We plan to add additional taxable fixed income sales people in the new office," Mr. Leland said. "We want to continue growing our mortgage presence, and we offer the capital, inventory and attractive account packages that many brokers are seeking. We have a great platform for brokers to expand their business, and the San Francisco area provides a large talent pool to draw from."
Mr. Leland said Southwest Securities recently expanded ABS and CMBS trading capabilities by adding Derek Rose, a veteran of RBC Capital Markets, ABN Amro and Sutro, in the Chicago office reporting to EVP Pat Price. In July Steve Palmer, formerly with J. P. Morgan, joined the mortgage trading area reporting to EVP Rob Nash. Steve manages the mortgage desk in New York and works with Jeff Bohnsack who manages the mortgage desk in Dallas.
"These are the type of experienced professionals we are attracting to support additional sales volume and expansion," Mr. Leland said. "Southwest Securities has experienced steady growth in taxable fixed income sales since 1995, and we expect that growth to continue."
Southwest Securities, Inc., a member of NYSE, FINRA AND SIPC, provides securities brokerage, investment banking and securities clearing services to a broad range of individual, corporate, public and industry clients. The firm is a wholly owned subsidiary of SWS Group, Inc. (NYSE: SWS), a financial services holding company whose stock is listed and traded on the New York Stock Exchange under the symbol, SWS.
Forward-Looking Statements
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SOURCE Southwest Securities, Inc.
