John Matsikoudis, former senior underwriter at Loop Capital Markets, has been hired by CastleOak Securities to continue the growth of its municipal sales and trading business.
"I am confident that John's deep market knowledge, experience and relationships will contribute to the continuing expansion of our business," David R. Jones, president and chief executive officer of New York-based CastleOak, said in a press release. The hiring "underscores our commitment to our institutional clients."
Matsikoudis began working in CastleOak's New York offices on March 25, leading trading efforts as the managing director and head of the municipal underwriting department overseeing risk and underwriting, while working closely with the banking team.
CastleOak, which launched its municipal bond desk in May 2011, hired James Heald, Michael Lorenz and Christine Guest in June 2013 to strengthen its municipal distribution platform across its regional offices. There are about 35 sales and trading employees combined at the firm.
The firm said that expansion of the municipal and sales team has been a key goal.
"As we continue to grow our team and range of expertise across sales and trading, we are further solidifying our position as one of the market's leading boutique investment firms," Jones said.
CastleOak's municipal finance sector offers underwriting, fixed-rate products, variable-rate securities and financial advisory services. The firm works in both the primary and secondary markets. CastleOak has participated in more than 850 municipal deals totaling over $355 billion in principal amount, according to the firm's website.
"I am thrilled to be joining a firm with such a stellar reputation, and I look forward to helping CastleOak serve our clients and build our market franchise," Matsikoudis said.
Before joining CastleOak, Matsikoudis was the senior underwriter at Loop Capital Markets. Prior to that, he was a trader at the Canadian Imperial Bank of Commerce, and Paine Webber, a stock brokerage and asset management firm.
