Yesterday, the BDA held its Public Finance Leadership Roundtable. The webinar was attended by dozens of representatives from BDA member firms and was sponsored by Quarles & Brady, DPC Data, and Lumesis. The panel discussion focused on the most recent market, legislative and regulatory topics facing middle-market banks and dealers in 2021.
A recording of the event can be viewed here.
Roundtable Recap
The panel was moderated by Jeff Peelen, Partner, Quarles and Brady and featured:
- Frank Fairman, Managing Director and Head of Public Finance Services, Piper Sandler
- Mark Borrelli General Counsel, Huntington Securities,
- Anne Noble, Managing Director, and Chair of the Public Finance Executive Committee, Stifel; and
- Brian Battle, Director and Principal, Performance Trust.
Roundtable Agenda
- Workforce Challenges/Strategies/Silver Linings
- Post-COVID office/virtual challenges generally
- Challenges getting out to see clients especially w/ “next generation”
- Recruiting issues
- What is the “typical” path to bankers these days?
Legislative Update
- Federal legislative update from the BDA
Business Trends
- Will (lower rates and) higher volume continue?
- Last year: flight to quality
- This year: the emergence of high yield
- “Green” and ESG deals
- Impact of federal dollars — e.g., schools
- Increased project costs (labor & supplies in general)
- Slow-down of taxable refundings
- Pensions borrowings bolstering taxable volume
Regulatory Environment
- Expectations from new SEC leadership
- Fundamentally different views (MAs, underwriters)
- Implications of coming back to the office
- Remote inspections
- G-17
- Politicization (e.g., gun manufacturers)
Bond Dealers of America
June 17, 2021