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VOL. 128 | NO. 28 | Monday, February 11, 2013

FTN Financial Grows With New Offices, Hires

By Andy Meek

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First Tennessee Bank’s capital markets subsidiary has been on a tear lately. FTN Financial has grown on several fronts, including with the addition of a public finance department as it expands into the general market municipal bond sector and with the opening of new offices as part of that expansion. The company also has opened additional new offices around the country and added employees in other areas to handle general growth.

FTN has a hundred-year history of being in the municipal bond business. The company began expanding in that area with the launch of a dedicated municipal sales group last year, and establishing a public finance department now complements FTN’s municipal trading and underwriting capabilities.

“We expanded our trading and underwriting last year,” said FTN municipal products manager Mike Allen. “The establishment of this public finance group was the next logical step.”

He added the company plans to increase its commitment to the general market municipal platform and keep on growing its public finance department. As part of that, FTN recently opened new offices in Texas – in San Antonio and Austin. And FTN has hired two veterans of public finance in Texas for those offices.

Don Henderson is a new addition in FTN’s Austin office. Rogelio Rodriguez is a new FTN addition in San Antonio.

Also, the company participated in four deals in January, including the solely underwritten $88 million La Joya Independent School District refunding issue in Texas.

FTN recently added to its dedicated municipal bond sales team Josh Mulholland, who brings more than 20 years of institutional municipal sales experience to FTN.

In other recent news, FTN has added two capital markets veterans to its sales team. Sylvia Holt Williams has joined FTN’s Kansas City, Kans.., office from Stifel Nicolaus, where she worked as managing director of mortgage-backed securities trading.

Joining the Philadelphia office is Grady Mosay, another Stifel Nicolaus veteran.

Both of those new additions are senior vice presidents of sales at FTN.

Among its other services, FTN encompasses capital markets, investment banking, correspondent services and strategic alliances. The company has an average daily trading volume of more than $5 billion, and it does business with about 50 percent of all banks in the U.S. with portfolios of more than $100 million.

FTN economists are highly respected in the industry and frequent speakers at seminars and conferences around the country. Chief economist Chris Low is a regular commentator for Bloomberg, Reuters, National Public Radio and CNBC.

Jim Vogel, who manages interest rate, credit and municipal market strategies for FTN Financial Capital Markets, is frequently mentioned in the financial press, and economist Lindsey Piegza is a regular on the Fox Business Network.

FTN has offices in Memphis to Philadelphia, San Francisco, Tokyo and Hong Kong.

FTN employs more than 50 traders and 165 sales representatives in 19 offices around the world.

FTN and First Tennessee Bank are part of Memphis-based First Horizon National Corp.

PROPERTY SALES 124 481 17,865
MORTGAGES 127 530 20,565
BUILDING PERMITS 195 891 36,836
BANKRUPTCIES 52 262 11,426