WASHINGTON — Patrick Sweeney, Fidelity Capital Markets' senior vice president and manager of the municipal securities department, joined the Municipal Securities Rulemaking Board on Thursday, replacing Edward Tishelman, who left TD Securities.
The MSRB had announced in early August that Tishelman, then-managing director and head of the municipal finance group at TD Securities, was, as a bank representative, one of two regulated members who would be joining the board for a three-year term. But Tishelman left his position with the firm, which makes him ineligible for the board position.
Sweeney will serve on the MSRB's Nominating and Governance Committee and his term on the board will expire in September 2018.
In his current position with Fidelity Capital Markets, he is responsible for managing municipal fixed income trading and underwriting as well as overseeing risk for the muni department with Fidelity. He also focuses on electronic trading for fixed income markets.
"Pat has more than 30 years of experience in fixed income markets and is well versed in trading and underwriting municipal securities," said MSRB chair Nat Singer. "Given his focus on new issue municipal securities and electronic offerings, he can assist with the board's retail investor-focused initiatives and support our market transparency goals."
Sweeney joined Fidelity in 1987 and has been the head of corporate bond trading as well as the head of tax-exempt and taxable fixed-income trading institutional sales. He was a municipal trader at Merrill Lynch from 1983 to 1987 before he joined Fidelity.
Sweeney has a bachelor's degree from the University of Massachusetts.
