PNC Bank has hired Mark Pryce as a municipal bond underwriter as the firm looks to expand its presence in Texas.
Pryce, who is based out of PNC's Dallas office and started in mid-September, has more than 20 years of municipal underwriting experience. During that time, Pryce worked on several teams of public finance professionals — including Estrada Hinojosa & Co., Citigroup Global Markets Inc., BOK Financial, BofA Securities and Wachovia Bank — that were "responsible for the origination, distribution, structuring, and placement of fixed income municipal bonds," he said.
He said PNC distinguishes itself as "a leading national banking franchise, with a dedicated focus and team that prides themselves in servicing communities and clients."
The firm has already established a strong platform to serve its clients and there is the opportunity for national growth, according to Pryce.
At PNC, he said he is looking forward to nationally expanding of PNC's public finance business and establishing a Dallas-based municipal fixed income desk.
As "one of the best negotiated underwriters in the country with a 20-plus year track record of best-in-class client advisory, Mark was the perfect fit to join our issuer-facing markets team," said James Bernier, PNC's executive vice president and head of tax-exempt trading and underwriting and the Derivative Products Group.
Pryce, who brings "strong" national and local connections with issuers and muni advisors, is "highly respected" throughout the industry, specifically within the Texas market, he said.
Pryce brings "a strong growth mindset" and has a track record of "leading, developing, and growing origination teams and organizations," Bernier said. Pryce also boasts "a robust network in new issue product markets, both nationally and in Texas," he noted.
Additionally, Pryce's hiring allows PNC to grow its business in the state.
Growing the firm's presence in the Lone Star state starts with hiring the best talent, Bernier said.
"Mark's hire demonstrates PNC's investment in its national public finance business and its commitment to Texas public finance clients and issuers," he said.
Furthermore, the addition of Pryce to PNC officially established a Dallas-based municipal investment banking desk for the firm, supporting its "objective to grow our presence in Texas and the Southwest across the bank," Bernier said.
"Regardless of industry headwinds, PNC Public Finance is committed to expanding our presence and capabilities from coast to coast," said Robert Dailey, executive vice president and head of PNC Public Finance.
"Mark Pryce's hire is an example of us reinforcing that commitment, specifically in Texas and the Southwest region," he continued. "Opening a Dallas-based underwriting desk with a respected leader like Mark provides a key competitive advantage and differentiator for our clients, offering in-depth knowledge of the market and first-class experience and execution."
