M.R. Beal Names John W. Jacobson and Mark J. Grimmig as Vice Presidents of Institutional Sales and Trading
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NEW YORK--(BUSINESS WIRE)--
M.R. Beal & Company, an investment bank specializing in public finance, corporate debt & equity, and financial advisory, announced today that John W. Jacobson and Mark J. Grimmig have joined the firm as vice presidents of institutional sales and trading. They will both report to Jacob (Jay) Alpert, executive vice president in charge of M.R. Beal's municipal sales and trading desk.
Mr. Jacobson, 42, most recently was a managing director at Bear Stearns & Company where he was responsible for marketing, trading and selling intermediate and long-term bonds. He also was involved in the planning and development of Bear's trading systems. Mr. Jacobson earlier was a fixed-income trader at Prudential Securities Inc. and CIBC Oppenheimer Corp.
Mr. Grimmig, 47, most recently was a managing director at JPMorgan Chase & Co. where he was responsible for building and maintaining a book of municipal institutional accounts and introducing new financial products such as tender option bond programs and credit default swaps. Prior to that he worked at Bear Stearns & Company.
"M.R. Beal will greatly benefit from Mark and John's extensive fixed income experience and their long standing client relationships will bolster the already formidable strength of our sales and trading desk," said Bernard Beal, the firm's founder and chief executive officer of M.R. Beal.
"Current market conditions afford boutique firms such as M.R. Beal unique opportunities to increase our bench and differentiate ourselves from the bulge bracket banking institutions," said Stan Grayson, president of M.R. Beal. "We will be aggressively taking advantage of more hiring and business opportunities in the future."
Mr. Jacobson graduated with a bachelor's degree in business administration from Skidmore College. Mr. Grimmig attended The State University of New York.
About M.R. Beal
Founded in 1988, M.R. Beal is a leading investment bank specializing in municipal, corporate finance and equity execution. Based in New York, the minority-owned firm participated in $38.1 billion of municipal underwritings in 2007 and continues to rank among the top 20 underwriters of municipal securities worldwide. Additionally, the firm has participated in nine of the 14 largest IPO's. Since 1991, the firm's new issue offerings totaled $150 billion. M.R. Beal's institutional clients include a wide array of leading U.S. corporations, as well as state and local government and not-for-profit entities. In addition to its New York headquarters, M.R. Beal also has offices in Chicago, Sacramento and Dallas.
Source: M.R. Beal & Company
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