SAN ANTONIO, Texas, Oct. 26, 2011 /PRNewswire/ -- The Capital Markets Division of leading bank broker-dealer Investment Professionals, Inc. (IPI) today announced a new milestone in the growth of its municipal sales and trading practice. IPI's current average secondary municipal inventory of between $35-40 million par value in institutional and odd lot line offerings supports IPI's position as a competitive muni market maker for clients nationwide. To support its plans for continued growth, IPI is seeking to hire experienced secondary muni traders for the Denver and San Antonio markets.
"Our plan is to double our secondary municipal inventory by 2013 to $80 million par value, bringing IPI in line with Wall Street's Tier 1 trading platforms. We're seeking to add three additional traders by the first quarter of 2012 to help us achieve our 2013 goal," said John Sacchetti, Senior Vice President and Director of Fixed Income.
IPI's use of multiple electronic communication networks (ECNs) to sell its inventory enables the firm to offer highly competitive pricing. This ability to pass on cost savings to clients has made IPI's Capital Markets Division one of the primary muni desks of choice for hundreds of clients. IPI is currently hiring secondary muni traders to work closely with institutional investors to obtain the best available execution in a fast-paced secondary market. The firm's client base includes bond funds, investment managers, trust investors, broker-dealers and hedge fund managers.
"2011 has been a great year for IPI's Capital Markets Division. John Sacchetti, Ken Muniz and Brian McNeely have put in place a solid infrastructure for doubling our secondary municipal inventory. We're seeking experienced traders to help us continue our strong performance – either with me and Chad Dagenhart in Denver or in San Antonio with our other traders," said Chris Thompson, Senior Vice President of Trading.
Through IPIBonds.com, IPI offers its Financial Consultants access to the inventory of over 150 dealers and more than 20,000 fixed income securities, competitive pricing and efficient execution. In addition, IPI provides customized analytical support for bond laddering, structured products and diversification strategies and direct access to fixed income traders.
"We're extremely pleased with the dramatic growth of our municipal inventory under the direction of John Sacchetti and Chris Thompson," said Jay McAnelly, IPI President and Chief Executive Officer. "Our strong fixed income capabilities complement the steady growth of our core bank investment program segment, where easy access to on-site IPI financial advisors and the entire IPI team provides financial institutions an incentive to explore the benefits of working with IPI in several areas."
About Investment Professionals, Inc.
Founded in 1992, IPI is a private, Texas-based financial planning, asset management and risk mitigation firm with $4.2 billion under management for 45,000 retail and institutional clients nationwide. IPI is a leading provider of on-site bank investment programs and currently partners with more than 130 financial institutions with assets in the range of $35 million to over $7 billion. For more visit www.invpro.com.
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SOURCE Investment Professionals, Inc.