Eric Avila has joined Philadelphia-based Janney Montgomery Scott LLC as director of public finance for its capital markets group.
Avila, who previously worked at Morgan Stanley as an executive director of municipal securities, joined the firm's Chicago office in late May, where he serves state and local government clients in the Midwest.
"I am pleased to welcome Eric to Janney," Vivian Altman, Janney's head of public finance, said in a release. "His transaction experience and professional network strengthens our presence in Chicago and maximizes our ability to serve clients across the entire Midwest region."
Avila's role is a new position within Janney, and Altman said it was enabled by the company's growth in recent years.
"We're looking to grow our team in various parts of municipal practice and it was time to really add a banker in the Midwest," Altman said in an interview. "We see a lot of potential in the Midwest."
Avila's experience includes senior positions at Morgan Stanley, Ramirez and US Bank. He has managed more than $7 billion of bond transactions, according to the release.
Avila "has experience with tax-exempt and taxable bonds, fixed and variable rate bonds, direct placements, and various balance sheet products including letters of credit, lines of credit, and swaps," the release said.
"While Janney has plans to add more employees to its Chicago office, Altman said, the focus for public finance expansion will be to other regions where the firm has offices."
"The firm has over 130 offices," Altman said. "We're looking to take advantage of our footprint."
This type of growth is possible because of Janney's size, Altman said. Unlike larger firms, Janney has avoided layoffs in economic downturns and seen more stable growth, she added.
