William O’Keefe, who was to lead Cantor Fitzgerald’s push into the U.S. municipal bond market, has left the brokerage, Bloomberg reports. The former head of Morgan Stanley’s municipal debt department has now joined Assured Guaranty as a senior managing director of municipal marketing for its two direct bond insurance units.
O’Keefe will expand Assured Guaranty’s relationships with municipal sales, trading and syndication desks. Cantor, one of the 18 primary dealers sanctioned to trade U.S. government securities with the Federal Reserve Bank of New York, said last month it was entering the $2.8 trillion municipal bond market.
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